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19 results for “productivity paradox”
Concept5 mentions across episodes
productivity
...growth for the last fifty years has actually been very low, not very high. So we all feel like it's been very high. There's been lots of technological change. What's actually happening is it's it's been very low. And in fact, the pace of productivity
6:42 / 7:57
from transcript6:42 – 7:57
...And productivity growth for the last fifty years has actually been very low, not very high. So we all feel like it's been very high. There's been lots of technological change. What's actually happening is it's it's been very low. And in fact, the pac
5:51 / 7:03
from transcript5:51 – 7:03
...vertical productivity improvement, like eliminating people. Our clients are using AI in extremely productive ways. Our young analyst, Bain, are just working the same seventy hour weeks doing a different set of activities. So they're not putting red b
8:19 / 9:23
from transcript8:19 – 9:23
...effect on productivity, which is the amount of wealth produced by per hour worked? Typically, it's fifteen, twenty years. And the reason is that's what it takes for people to learn to use that new technology, basically. But you but you buy that here.
34:29 / 35:42
from transcript34:29 – 35:42
...productivity flatlining. And what that means actually is that our country is under indexed in technology and not over indexed in technology. Under indexed. Maybe we're over indexed in software Yeah. But we're under indexed in the real kind of technol
17:54 / 19:16
from transcript17:54 – 19:16
in a lot of professions. There are a lot of jobs where you get to 40 or 50 and you can keep doing a good job, but you don't really have to learn much new. You you can just keep keep doing a good job doing what you're doing, and you don't have to lear
50:09 / 51:27
from transcript50:09 – 51:27
...productivity. And I've become somewhat fascinated with this macroeconomic theory called Jevons paradox, which is that, the the basic, economic principle that when you have a technology that massively increases efficiency,
14:18 / 15:22
from transcript14:18 – 15:22
...productivity was a big question mark, and we saw how flawed the measurements are and probably still are. So I can only tell you the rate of of uptake is so much is that enterprises are seeing a difference. Maybe if they're not laying people off, they
9:43 / 10:53
from transcript9:43 – 10:53
...productivity, that's also the good. And, you know, we still have just as many, jobs because we want 10 times more software. I don't know how long that lasts. Again, the ratios start to get challenging at some point. But, yeah, I think the bottle you
32:59 / 34:00
from transcript32:59 – 34:00
...in productivity. Some of the easy wins that a company might have done probably are behind us or, you know, you think, okay, Do I need two copy editors or one? Well, if I have one copy editor in AI, I'm okay. But those are easy wins. Right? The real t
32:57 / 34:01
from transcript32:57 – 34:01
are the people using these tools fundamentally more productive than the folks that aren't? Layer on top of that tonnage of amount of time worked. You can get a pretty good, it's never perfect. People are on vacation. You have to measure this as group
18:34 / 19:45
from transcript18:34 – 19:45
productivity gains, broad based productivity gains. I think the biggest issue around trying to forecast productivity gains is that with any new technology that comes along, it turns out to be really, really hard to forecast what the impact that has o
42:44 / 43:51
from transcript42:44 – 43:51
This cup of coffee is gonna cost less. Your housing is gonna cost less. Everything is going to cost less, which means people are going to need less money. So how is it going to cost us to have a cup of coffee because of AI? Because you're going to ha
43:22 / 44:30
from transcript43:22 – 44:30
...as an organization has gone up, and we can now create more things faster. So whatever the product is that my company makes, we can now make more things more quickly. We can do more development plus cost. On the ground. Correct? Out of hollow? And I'm
56:56 / 58:07
from transcript56:56 – 58:07
with a computer, and with the book, which is not a test. That's the opposite of a test. That's just homework. That's just a homework assignment. But, yeah, I think we've lost our ability not to get too down a rabbit hole here, but we've lost our abil
47:04 / 48:37
from transcript47:04 – 48:37
...productivity growth in the West basically for the first half of the twentieth century. So from the, basically, you know, what was called the second industrial revolution, which started around 1880, 1890
17:58 / 19:05
from transcript17:58 – 19:05
...productivity gains. Like, massive, like crazy. And invariably, productivity gains are sort of a euphemism for cutting costs in some other way. And that ultimately probably is gonna have an impact on unemployment in this country. And do more things. O
33:45 / 34:45
from transcript33:45 – 34:45
“Why 50 years of tech revolution didn't boost productivity like we think”
...productivity downshifted hard, from prior eras. And productivity growth, basically, for the last fifty fifty five, sixty years has been at basically historical lows. It's it's been very low, which is,
2:24 / 3:04
contrarian take2:24 – 3:04
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