The future of regulation is to be data and privacy. How do we protect the data of people? We have to find a way of protecting that data. There are some things that can be done there without going into the details of the technology. The tax code favors capital to labor. If you hire labor, you pay more taxes than if you hire a machine or algorithm to do work. It's also a huge artificial inducement to automate.
In the Middle Ages, agricultural advancements enriched the nobility and the Church, which used the wealth generated to build themselves magnificent houses and cathedrals, while the peasants went hungry. The early years of England’s industrial revolution brought stagnant incomes for the working class. In recent decades technological advances have put untold amounts of wealth into the hands of the 0.1 per cent, while today, the sudden leap forward in artificial intelligence is threatening jobs and democracy through automation, data collection, and surveillance.
But does it have to be this way? MIT economist Daron Acemoglu has an alternative vision. His big idea: wrest control of AI from the hands of a few arrogant tech leaders and empower society instead. Is technology too important to leave to the billionaires? Can AI really be democratised? Listen now to this conversation hosted by Carl Miller, recorded in London.
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