Can A.I. Reduce Poverty and Inequality?: AI in 60 Seconds
Will A.I. reduce poverty and inequality or make them worse?
On the positive side, A.I. is enabling all technologies and industries and will create a huge amount of wealth in the world measured by PwC as 16 trillion dollars in the next eleven years and more wealth ought to reduce poverty and inequality. Another aspect is that A.I. can be applied to health care and reduce the cost of health care and can be applied to education and make it more accessible. So that should also improve. However, A.I. has the following problems. First, much of the wealth generated by A.I. will go to the powerful Internet companies and big data companies like Google, and Facebook, and Tencent, and Alibaba. So they will get richer and A.I. will displace a lot of jobs, so poor people might lose their jobs. And A.I. will make lots of money for AI Superpowers like US and China, and may make other countries worse off. So the answer is we don't know but it's something we have to think about.
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