2 weeks Ago
AI revolution How do we regulate Artificial Intelligence? Or should we? Some believe that AI poses a threat to democracy and society, and must be regulated. I ask, “By whom?” The government. Big business.
Law and regulation have never diagnosed and prevented social, political, and economic ills of new technology. Have people ever correctly forecast social and political changes from any set of causes? Remember Malthus’ prediction of widespread starvation in the 1700s? Or Marx’s fear of industrialization wiping out communism? Or the end of the world on Y2K? When telephones, airlines, radio and TV, and trucks were deregulated in the 1970s, we found that all the stories about consumer and social harm were wrong, but regulatory stifling of innovation and competition was very real. Some believe that once AI takes over, we’ll all be out of work.
It won’t happen. Mechanized looms did lower wages. But tractors made farmers more productive.
ATMs increased bank employment. I believe the BIG story of AI will be how it makes workers more productive. AI tools will likely raise the wages and productivity of less-skilled workers, by sharing the knowledge and analytical abilities of the best ones.
AI is not perfectly safe. AI will lead to radical changes, most for the better but not all. Competition will prevail.
The government must enforce rule of law, not the tyranny of the regulator. It is AI regulation, not AI that threatens our republic. Mike Steffen Moline Get opinion pieces, letters and editorials sent directly to your inbox weekly!.
