Here’s an idea: let’s say AI value can be conceptually divided into two buckets: automation and new value creation. The vast majority of work in AI today is probably on automation, even though most prefer to believe they work on new value creation. Let’s let “automation” refer to work currently done by people that can now be done by machines more cheaply. Value from automation thus derives from decreased production costs, rather than quality increase. By contrast, let’s say “new value creation” refers to everything else - so new economic activities or any quality improvements over current processes.
Interesting destinction between "new value creation" and "automation". I wrote a related post differentiating between augmentation and automation: https://scalingknowledge.substack.com/p/why-job-displacement-predictions