Tue Jan-30-2024: MIT says humans cheaper than AI, AWS Courting SMBs, rising cyber costs

In this episode of "The Business of Tech," Dave Sobel discusses the findings of a study by MIT on the cost of deploying artificial intelligence (AI) technology. The study reveals that currently, it is more economical for employers to keep human workers, as only 23% of workers' wages for tasks relying on computer vision could be cost-effectively replaced by AI. While AI excels at recognizing patterns and analyzing images, it comes with high installation and maintenance costs and lacks the ability to handle tasks requiring intuition and implicit knowledge. However, industries like banking, marketing, retail, legal services, transportation, and healthcare are still prime candidates for increased automation. The episode also touches on the potential impact of AI on the U.S. economy and job losses in the next decade. Four things to know today00:00 MIT Study: AI Deployment Costs Keep Human Workers More Economical for Now03:30 Rising Costs of Cybersecurity: Average Attack Response Exceeds $5 Million07:49 AWS Supports SMB Market: Introduces Specialized Partner Competency08:44 German Study Confirms Decline in Google Search Quality Due to SEO Spam    💼 All Our SponsorsSupport the vendors who support the show:👉 https://businessof.tech/sponsors/ 🚀 Join Business of Tech PlusGet exclusive access to investigative reports, vendor analysis, leadership briefings, and more.👉 https://businessof.tech/plus 🎧 Subscribe to the Business of TechWant the show on your favorite podcast app or prefer the written versions of each story?📲 https://www.businessof.tech/subscribe 📰 Story Links & SourcesLooking for the links from today’s stories?Every episode script — with full source links — is posted at:🌐 https://www.businessof.tech 🎙 Want to Be a Guest?Pitch your story or appear on Business of Tech: Daily 10-Minute IT Services Insights:💬 https://www.podmatch.com/hostdetailpreview/businessoftech 🔗 Follow Business of Tech LinkedIn: https://www.linkedin.com/company/28908079YouTube: https://youtube.com/mspradioBluesky: https://bsky.app/profile/businessof.techInstagram: https://www.instagram.com/mspradioTikTok: https://www.tiktok.com/@businessoftechFacebook: https://www.facebook.com/mspradionews Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.