The rich and powerful have hijacked progress throughout history, says Daron Acemoğlu. They did so back in the Middle Ages and also now in the age of artificial intelligence. In an interview, the MIT economist dives into the question of whether Silicon Valley is plunging humanity into destitution.
I can, totally, see AI only benefitting the people who own the code and make policies for it. Despite the fact that it may be used to “benefit” most people, the ones who will benefit the most are the people who own it. Similar to targeted ads. It’s a multi-billion dollar industry that gathers insane swathes of information on individuals, and that information is bought and sold to the highest bidder. You could make the argument that it’s easier to buy shoes online, but is it worth having literally everything about you sold to whoever is willing to buy it? It’s usually a ruse crafted by people with the ability to profit off of others, making the majority think they’re benefiting in some minute way.