Artificial Intelligence (AI) carries great promise for driving economic growth and improving our lives, as well as potential risks that could severely undermine its potential. In his recent working paper Harms of AI, MIT Institute Professor Daron Acemoglu argues that AI needs to be properly regulated for society to reap the full benefits of the technology in the future. Otherwise, AI risks producing social, economic, and political harms, such as damaging competition, consumer privacy, and consumer choice; fueling inequality and failing to improve worker productivity; and damaging political discourse, democracy’s most fundamental lifeblood. If regulated properly, these potential pitfalls can be avoided, and AI can lead to economic growth, shared prosperity, and substantially greater welfare for our society.
On December 13, Anton Korinek, the David M. Rubenstein fellow at the Center on Regulation and Markets at Brookings, sat down with Acemoglu to discuss the complexities of the impact of new AI technologies and how AI could be regulated to achieve its promising and wide-reaching potential.
This event was part of the Brookings Center on Regulation and Markets’ series, “The economics and regulation of artificial intelligence and emerging technologies,” which focuses on analyzing how AI and other emerging technologies impact the economy, markets, and society, and how they can be regulated most effectively.
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