Artificial Intelligence has the potential to make or break the world order, either pulling the “bottom billion” out of poverty and transforming dysfunctional institutions or entrenching injustice and increasing inequality. The outcome will depend on how we manage the coming changes.
OXFORD – Artificial Intelligence is the next technological frontier, and it has the potential to make or break the world order. The AI revolution could pull the “bottom billion” out of poverty and transform dysfunctional institutions, or it could entrench injustice and increase inequality. The outcome will depend on how we manage the coming changes.
Unfortunately, when it comes to managing technological revolutions, humanity has a rather poor track record. Consider the Internet, which has had an enormous impact on societies worldwide, changing how we communicate, work, and occupy ourselves. And it has disrupted some economic sectors, forced changes to long-established business models, and created a few entirely new industries.
But the Internet has not brought the kind of comprehensive transformation that many anticipated. It certainly didn’t resolve the big problems, such as eradicating poverty or enabling us to reach Mars. As PayPal co-founder Peter Thiel once noted: “We wanted flying cars; instead, we got 140 characters.”
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What "Team Transitory" has missed in the inflation debate is that inflation tends to become persistent because of second-round effects. Not only have producer prices risen over the past year or so, but they also have not yet been fully passed through the value chain.
navigates the complex array of factors that give rise to one of the biggest problems in macroeconomics.
Fifteen years after the collapse of the US investment bank Lehman Brothers triggered a devastating global financial crisis, the banking system is in trouble again. Central bankers and financial regulators each seem to bear some of the blame for the recent tumult, but there is significant disagreement over how much – and what, if anything, can be done to avoid a deeper crisis.
OXFORD – Artificial Intelligence is the next technological frontier, and it has the potential to make or break the world order. The AI revolution could pull the “bottom billion” out of poverty and transform dysfunctional institutions, or it could entrench injustice and increase inequality. The outcome will depend on how we manage the coming changes.
Unfortunately, when it comes to managing technological revolutions, humanity has a rather poor track record. Consider the Internet, which has had an enormous impact on societies worldwide, changing how we communicate, work, and occupy ourselves. And it has disrupted some economic sectors, forced changes to long-established business models, and created a few entirely new industries.
But the Internet has not brought the kind of comprehensive transformation that many anticipated. It certainly didn’t resolve the big problems, such as eradicating poverty or enabling us to reach Mars. As PayPal co-founder Peter Thiel once noted: “We wanted flying cars; instead, we got 140 characters.”
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Subscribe now for unlimited access to everything PS has to offer.
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