Unregulated AI Will Worsen Inequality, Warns Nobel-Winning Economist Joseph Stiglitz

Unregulated AI Will Worsen Inequality, Warns Nobel-Winning Economist Joseph Stiglitz

US economist and recipient of the Nobel Prize in Economic Sciences Joseph E. Stiglitz, photographed in Paris, September 2022. Credit: For the first time since the 1960s, Hollywood writers and actors are on strike concurrently. One of the joint movement’s inspirations is generative artificial intelligence—the term for programs that produce humanlike text, images, audio and video more quickly and cheaply than artists. The strikers fear studios’ use of generative AI tools will replace or devalue human labor. This is a reasonable worry: one report suggests that thousands of jobs have already been lost to AI , while another estimates […]

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