Will AI Exacerbate Inequality?
AI and Economic Equality
In a survey conducted by Deloitte in late 2023, half of all participants in leadership roles in their companies expressed the belief that generative AI is more likely to consolidate power and increase economic equality. Despite many of these decision-makers viewing AI-powered media generation as beneficial for their businesses, there is a growing concern that unchecked expansion and development of increasingly capable large language models could potentially have a negative societal impact. This concern is explained in detail by Florian Zandt from Statista.
Survey Results
Out of the 2,835 respondents surveyed over a span of two months, 30 percent believed that generative AI would contribute to a more equitable distribution of power and a reduction in disenfranchisement. Additionally, 22 percent of respondents were of the opinion that economic inequality would decrease. However, the survey did not provide detailed responses on how chatbots like ChatGPT and the underlying large language models would help achieve these outcomes.
Generative AI and Economic Power
A broader perspective suggests that generative AI will likely enhance economies with strong tech sectors and the ability to procure dedicated chipsets from vendors like Nvidia. The financing of data center infrastructure, whether through renting existing capacity or constructing and maintaining their own data centers, is also expected to be a significant factor. This perspective is supported by reports from outlets like TechCrunch. The survey's authors suggest that these developments will require close monitoring by governments and regulators.
The Role of Governing Bodies
According to analysts at Deloitte, governing bodies will likely have to balance ensuring the benefits of generative AI are widely and fairly distributed, without excessively stifling innovation or providing an unfair advantage to countries with different rules.
Bottom Line
The potential of AI to either reduce or exacerbate economic inequality is a contentious issue. While some believe that AI can contribute to a more equitable distribution of power, others worry that unchecked growth could lead to a consolidation of power. What are your thoughts on this matter? Feel free to share this article with your friends and discuss. Don't forget to sign up for the Daily Briefing, which is delivered every day at 6pm.
