AI will make rich counties richer and deprive poor states of an opportunity to evolve. Large young population used to be low-cost labor countries’ greatest advantage. However, in the age of AI, this social group will turn from an engine of growth into a burden and a potentially explosive one if their governments will be unable to satisfy people’s demands for a better life.
Understanding how AI and machine learning are changing the field is essential to setting the right priorities and addressing existing issues that do not allow economics to be considered true science.
The European establishment is mired down in internal political and economic issues and has been unable to devote more time and resources to AI. But AI will determine the place of Europe and its role in shaping the future world. If Europe wants to remain relevant in the new era and be a truly sovereign actor with independent , it must adopt a new AI strategy.
Artificial intelligence is transforming the world in dramatic ways and is poised to bring even more sweeping changes that will affect all fields of human endeavor–from social interactions and healthcare to international relations and military operations. Politics is no exception; the advent of A.I. marks the beginning of a completely new era in one of the oldest human fields and, apart from apparent negative repercussions, it will yield tremendous positive uses.
AI is therefore arguably the greatest threat to democracy, for it undermines its foundational pillars. Will democracy survive these unprecedented challenges? I believe so. Democracy has a unique capacity to effectively tackle the issues of modernity, and its inherent flexibility and pragmatic resilience will allow it to adapt to the new realities.
All in all, because of the advancement of AI and subsequent job losses, the world will be able to adapt to the changing composition of the labor market for about 5–7 years and will not witness a full-scale job disruption; also, it will considerably increase its productivity and rate of economic growth. However, with further advancements in AI and robotics technologies, market forces alone are unlikely to mitigate the implications of the new technological revolution, and therefore the authorities will have to implement reforms to prevent social instability.
Many fear AI algorithms because they think that they will not remain obedient to us. But the problem with algorithms is exactly the opposite - they will always do what they will be ordered to do.
One of the most serious misconceptions about new technologies is that they will first automate blue-collar, low skill jobs, while the high skill workforce will remain unscathed — at least in the near term. Even though this might seem intuitive, delving deeper into the issue challenges this assumption. The so-called Moravec’s paradox explains why white-collar jobs that require a high level of knowledge will be hit first by AI, contrary to conventional wisdom.
Just as the ideologies of communism and socialism emerged in the wake of the Industrial Revolution due to the poor conditions of the working class, if we fail to overcome the challenges to capitalism posed by the emergence of robotics, AI and Big Data, current order might come to an end because of the advent of completely new movements, beliefs and ideals.
AI and new technologies are already making Big Tech even more powerful than ever before. This is because the AI industry naturally gravitates towards monopolization.