Viewpoint: Everyone needs to feel the benefits of an ‘AI-reliant society’

[A]rtificial intelligence technology could actually boost the global economy. If it’s allowed to play a major role, AI will make our jobs easier yet more productive, and create vast new wealth. But that will only happen if global AI-based economies are set up to benefit everyone.

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The latest report from McKinsey & Company, a research and consulting group, hints that this resentment may emerge, which would impede innovation and widespread adoption of the technology. The 64-page report published this month [September], titled “Notes From the Frontier: Modeling the Impact of AI on the World Economy,” describes exactly how the nations that have begun to prepare for and explore AI will reap the benefits of an economic boom. The report also demonstrates how anyone who hasn’t prepared, especially developing nations, will be left behind.

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But if we want to bring about the prosperity that AI could deliver, we need to think now about how we want our economies to function, because our current systems won’t cut it. Maybe governments will implement progressive universal basic income systems, or proactively re-train those who are at risk of automation-related layoffs. Perhaps they’ll set up international accords that heavily feature voices from developing nations. But if this report is to be believed, something needs to be done now to make sure that our future AI-reliant society is one where everyone feels the benefits.

Read full, original post: If Artificial Intelligence Only Benefits a Select Few, Everyone Loses