Leaning In to Automation
Ask typical corporate executives about their goals in adopting artificial intelligence, and they will most likely make vague pronouncements about how the technology will help employees enjoy more satisfying careers, or create as many opportunities as it eliminates. A.I. will “help tackle the kind of tasks most people find repetitive, which frees up employees to take on higher-value work,” Arvind Krishna, the chief executive of IBM, wrote in 2023.
However, Sebastian Siemiatkowski, the chief executive of Klarna, a Swedish tech firm, has a different perspective. He believes that A.I. can already do all of the jobs that humans do, and his company has saved the equivalent of $10 million annually using A.I. for its marketing needs. Klarna has also cut back on the time its in-house lawyers spend generating standard contracts, and its communications staff uses the technology to classify press coverage as positive or negative.
Saying What Investors Can’t
Mr. Siemiatkowski’s statements are sometimes sweeping or grandiose because, former employees say, he sees himself as a righteous warrior in a fight with powerful forces. However, his views on A.I. are motivated by something altogether different from political naïveté or an impulse for real talk. And those motivations shed light on the A.I. future that many executives and investors are working to bring about.
Mr. Siemiatkowski’s pronouncements about A.I. are motivated by self-interest and a desire to promote his company’s brand. He believes that A.I. will not only make his company more efficient but also make him a thought leader in the industry. In an interview, he said that he wants to encourage people, specifically politicians in society, to treat A.I. as a serious change that’s coming. He also acknowledged that another part of the motivation was “self-promotion, for sure.” He added, “We’re regarded as a thought leader.”
Investors’ Ambition
Many tech investors are already banking on this outcome, effectively counting on automation to save their huge bets on free-spending A.I companies. In an influential analysis last year, the venture capitalist David Cahn estimated that the combined A.I.-related revenue of companies like OpenAI and Microsoft was likely to be hundreds of billions a year less than the amount needed to pay back investors.
But one way to make the numbers add up is if employers can save hundreds of billions of dollars using A.I. to replace workers in the relatively near future. In that case, the revenue of companies like OpenAI could grow rapidly and their investors could earn a profit. However, very few investors and top executives are willing to discuss this in plain language. When it comes to the question of job loss, those with a large financial interest in A.I. tend to euphemize and equivocate.
Conclusion
In conclusion, Sebastian Siemiatkowski’s statements about A.I. are a reflection of the ambition of tech investors and executives to use the technology to displace human workers. While many executives and experts may be reluctant to discuss the potential downsides of A.I., Mr. Siemiatkowski’s honesty has brought clarity to the conversation. As A.I. continues to evolve, it is likely that we will see more and more companies adopt the technology, potentially leading to significant changes in the job market.
Frequently Asked Questions
Q: What does Sebastian Siemiatkowski mean by saying that A.I. can already do all of the jobs that humans do?
A: Mr. Siemiatkowski believes that A.I. has already reached a level of sophistication where it can perform many tasks that were previously done by humans. He may be overstating the case, but his point is that A.I. has the potential to automate many jobs in the near future.
Q: Is it true that investors are counting on automation to make a profit from their investments in A.I. companies?
A: Yes, many investors are betting that A.I. will save them money by reducing the need for human labor. If employers can save hundreds of billions of dollars using A.I. to replace workers, the revenue of companies like OpenAI could grow rapidly and their investors could earn a profit.
Q: Why are investors and executives reluctant to discuss the potential downsides of A.I.?
A: Many investors and executives have a large financial interest in A.I. and are hesitant to discuss the potential downsides of the technology, such as job loss. They may also be worried about being seen as negative or alarmist, or about losing investors or customers if they are too honest about the potential consequences of A.I.
