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Machine learning impact on the economy will be increased productivity and abundance, but far less human labour and judgement. We may need a system focused on more than just efficient production that places greater prioritization on the less desirable side effects of capitalism.
It is easy to produce images that are completely unrecognizable to humans, but that state-of-the-art DNNs believe to be recognizable objects with 99.99% confidence (e.g. labeling with certainty that white noise static is a lion)