In this enlightening discussion, Sam Hammond, a Senior Economist at the Foundation for American Innovation, dives into the transformative potential of AI. He argues AI could rival the printing press in impact, emphasizing the need for society to adapt to these changes. The conversation spans urban development influences, the challenges of regulating powerful AI models, and differing global perspectives on tech innovation. Hammond also contemplates the ethical dilemmas posed by AI, stressing the delicate balance between regulation and the pace of innovation.
Canada's housing crisis is driven by high immigration and foreign investment, necessitating streamlined policies for effective land use and livability.
AI's potential societal impact could rival historic innovations, posing questions about its role in transforming existing frameworks versus promoting rapid evolution.
Effective AI regulation is critical as outdated frameworks may stifle innovation, highlighting the need for flexible policies that encourage competition and oversight.
Deep dives
Canadian Housing Market Insights
The Canadian housing market faces significant challenges, primarily stemming from a combination of high immigration rates and foreign investment, particularly from China. Many Canadian cities, like Vancouver and Toronto, have seen substantial real estate purchases from overseas buyers seeking stable investments, which drives up prices. Unlike the U.S., where sprawl is prevalent, Canada deals with strict zoning regulations amidst its own version of NIMBYism, complicating the housing crisis. Addressing these issues requires streamlined policies and a reevaluation of how land is developed and used, focusing on how these solutions can enhance livability.
AI's Transformative Potential
The discussion surrounding artificial intelligence highlights its potential to revolutionize various sectors, drawing comparisons to major historical innovations like the printing press and photosynthesis. While the printing press significantly shifted cultural dynamics, AI may transform economy and society at an even more profound level, impacting research and development cycles. The debate centers on whether AI will merely enhance existing frameworks or catalyze a more rapid evolution of technological capabilities and social structures. Recognizing this duality is essential for understanding AI's role in shaping the future.
Challenges of AI Regulation
Regulating AI presents complex challenges, particularly as current frameworks may become outdated or fail to address rapid technological advancements. Critics argue that existing regulations can stifle innovation instead of providing necessary oversight. For instance, the European Union's AI regulations have been criticized for being too granular and potentially hindering development at a time when agile adaptations are crucial. Effective regulation should focus on high-stakes players in the AI landscape while encouraging healthy competition and innovation in the industry.
The Acceleration of AI Development
The pace of AI development is accelerating, fueled by advancements in hardware and increased energy requirements for data processing and model training. This uptick in capability has led to renewed interest and investment in AI technologies, contributing to fears and speculation about the implications of rapid growth. Historical comparisons point to how technology evolves in waves, suggesting that while some may predict a plateau in AI advancement, the reality could be more dynamic. New tools and frameworks consistently unlock higher performance levels, indicating a continuous trajectory toward more advanced systems.
Geopolitical Implications of AI
The geopolitical landscape is profoundly affected by AI developments, with nations vying for technological supremacy and the capacity to control AI capabilities. The rising competition, particularly between the US and China, underscores the need for careful management of AI innovations to ensure national security and economic stability. Regulatory measures focusing on control over advanced computational resources become crucial in this context, as nations navigate the complexities of technology that blurs the lines of ownership and ethical considerations. Ultimately, the control of AI technologies could shape not only nations' economies but also their global influence.
On this episode of Unsupervised Learning Razib talks to economist Sam Hammond. Canadian-born Hammond serves as the Senior Economist at the Foundation for American Innovation. His work primarily focuses on innovation and science policy, with particular attention to the societal and institutional impacts of disruptive technologies such as artificial intelligence.
Before his role at FAI, Hammond was Director of Poverty and Welfare Policy at the Niskanen Center. Hammond also held a research fellowship at the Mercatus Center at George Mason University, focusing on policy issues related to technology and regulation. He holds a BA in Economics from Saint Mary’s University and MA's in Economics from George Mason University and Carleton University.
After a quick discussion about Canadian housing, Razib and Hammond consider his piece 95 theses about AI. Hammond’s contention is that AI might prove as impactful as the printing press, or, at the outer edge equivalent to photosynthesis. Nearly two years into the current “AI hype cycle” we still haven’t found the “killer app” of AI, but thinkers like Hammond are getting ahead of the likely inevitable societal changes. He believes that change is inevitable, and the details that need to be worked out are how we as a species adapt and evolve in response to our technology. Hammond contends that the AI-revolution is likely to produce changes in the next generation analogous to industrial transformations of the late 19th centuries and early 20th centuries, when cars, electrification and airplanes transformed civilization.
