Intelligence: Processing power vs Efficiency

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I would like to discuss an idea I've had about the nature of intelligence.

This thread is not to discuss the validity of IQ as a measure of intelligence, or whether or not intelligence is a well defined in the first place.

For the sake of discussion, let us agree that IQ is indeed a meaningful and accurate measure, and we will allow ourselves the luxury of just assuming IQ = intelligence, otherwise we will be bogged down in the weeds.

Based on my intuition, I suspect that rather than being a result of differences in sheer processing power, disparity in (human) intelligence is more adequately described as a result of differences in internal, mental models and mappings between concepts and ideas.

When I say "processing power", I mean things such as working memory (being able to hold 9 numbers in working memory as opposed to 6), or ability to recall facts and information (someone who can memorize things faster or with greater detail), or speed (like the ability to do arithmetic in your head faster).

My thinking is that increased human intelligence (when comparing between two individuals) is more likely a result of one person having more efficient internal models which allow them to recognize and manipulate patterns with increased success.

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