Artificial Intelligence (AI) and Machine Learning (ML) are being embraced by greater numbers of individuals, businesses, and governments as rising efficiency and productivity are permitting exponential growth in certain sectors of the global economy. However, the gap in efficiency and productivity between those sectors and businesses benefitting from AI and ML versus those that have not is also growing exponentially. This risks leaving those at the bottom further and further behind with less and less chance of catching up with the leaders.
As artificial intelligence (AI) becomes better at performing narrow tasks traditionally done by humans, how will governments create policies to protect peoples’ livelihoods? Should it be up to governments to do so or will it create a new generation of entrepreneurs? Will AI create a new breed of welfare recipients or will it spur governments to dramatically reform welfare? Some have argued that, while some jobs will be displaced, new jobs will be created in their place.