Author: EconLearner

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What happens when artificial intelligence transforms a niche overnight?

Strategy

In 2020, Google DeepMind researchers presented AlphaFold2, an artificial intelligence model that tackled a major scientific challenge: Is it possible to determine the structure of a protein from its components alone? The ability to do this without slow and expensive laboratory experiments had the potential to revolutionize our understanding of biology and accelerate drug discovery. In an annual competition of scientists trying to solve this puzzle, AlphaFold2 became the first artificial intelligence model to perform as well as laboratory experiments. Over the next few years, he predicted structures for more than 200 million different proteins, a 1,500-fold increase over proteins…

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With status symbols, let someone else do the bragging rights

Marketing

This practice, which he referred to as “conspicuous consumption,” has been going on for millennia. Studies of Neolithic societies, for example, show evidence of elaborate headdresses to mark their leaders. Medieval kings wore cloaks to show their nobility and class. In modern times, wealth and success are often presented through status symbols. Imagine someone arriving at an event in their new sports car or wearing a sweatshirt that shows off their fancy university. But how are others likely to judge or evaluate them? A consistent pattern, the researchers found, is that wearing a visible status symbol can have benefits, such…

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