Will AI be an economic blessing or curse? History offers clues

Will AI be an economic blessing or curse? History offers clues

High school student Richard Erkhov is reflected on a screen of "Alnstein", a robot powered with ChatGPT, in Pascal school in Nicosia, Cyprus, March 30, 2023. PHOTO: Reuters file

PUBLISHED ON August 07, 2023 7:47 PM

If medieval advances in the plough didn’t lift Europe’s peasants out of poverty, it was largely because their rulers took the wealth generated by the new gains in output and used it to build cathedrals instead.Economists say something similar could happen with artificial intelligence (AI) if it enters our lives in such a way that the touted benefits are enjoyed by the few rather […]

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