Summary: MIT economist Daron Acemoglu argues that AI is on track to do more harm than good, benefiting only the top and harming broader society. He states that tech only benefits those at the top and harms society when left unchecked. The AI boom fails to create new tasks and there is an imbalance of power between employers and employees. Acemoglu’s research shows that every additional robot introduced since 1990 has reduced employment by roughly six humans. The power dynamics between bosses and employees have become increasingly lopsided.
The AI Heretic
MIT economist Daron Acemoglu disputes the widely held belief that new technology, including AI, always leads to a better life for everyone. He argues that tech only benefits the top and harms society when left unchecked. Acemoglu’s research shows that the AI boom fails to create new tasks and has resulted in an imbalance of power between employers and employees. This imbalance is evident in the increasing gap between CEO and worker pay and the decreasing percentage of unionized workers.
The Impact of AI on Society
Acemoglu’s research reveals that every additional robot introduced since 1990 has resulted in the reduction of roughly six human jobs. This indicates that the AI boom is not leaving much work for the rest of us. Additionally, the power dynamics between bosses and employees have become increasingly lopsided, with CEOs earning significantly more than workers and the decline in unionized workers. The lack of regulation and understanding of technology by lawmakers further complicates the situation.
The Need for Balancing Technology and Society
Acemoglu emphasizes the importance of creating a balance between technology and society. The AI boom should not solely benefit the top but should create new tasks and empower employees. However, the current situation fails on both counts, leaving the majority of people at a disadvantage. The imbalance of power and lack of regulation pose significant challenges that need to be addressed to ensure a more equitable future.
