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AI Risks Global Divide: Wealth Fund Chief Warns
23 Nov
Summary
- AI's high cost could widen the gap between rich and poor.
- Uneven AI regulation may create economic disparities between regions.
- Agility and societal preparation are key for AI's rapid changes.
Nicolai Tangen, chief executive of Norway's massive $2tn national fund, has issued a stark warning regarding the accelerating deployment of artificial intelligence. He posits that AI's inherent costs and requirements, such as prior education, electricity, and digital infrastructure, risk exacerbating existing social and geopolitical divides across the globe.
The former hedge-fund investor highlighted the potential for AI to widen the disparity between rich and poor individuals and nations, particularly due to differing regulatory approaches. He noted the contrast between the US's less regulated AI landscape and Europe's more stringent approach, suggesting this could lead to divergent economic growth rates.
Tangen advised focusing on agility and societal preparedness rather than attempting to predict AI's rapid evolution. Despite acknowledging the potential for an AI investment bubble, he remains optimistic about its long-term benefits for productivity and the global economy, provided genuine breakthroughs are distinguished from mere hype.
