AI could boost productivity but increase wealth inequality, the White House says

DATE: 21/12/2016
SOURCE: CNBC
VIA: REDDIT


Artificial intelligence (AI) technology has the potential to boost productivity but increase wealth inequality and wipe out millions of jobs, a research report by the White House claimed on Tuesday.

An increasing number of industries are set to be impacted by automation technology over the coming years which could displace jobs, a fear that has been voiced by academics and business leaders.

Auto companies are developing driverless cars while factories could are seeing the increased use of robotics, which has the ability to eat into jobs. But many developments are at the early stage and the impact of automation technology could affect different industries are varying speeds.

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Three policy responses were proposed by the U.S. government to help with the transition:

    Invest in and develop AI which includes developing the technology in areas such as cyber-defense, as well as boosting education in this area
    Educating and training Americans for the future
    Aid workers in the transition and empower workers to ensure broadly shared growth. This can be done by modernizing the social safety net, which could include "more robust interventions" from the government, such as further strengthening the unemployment insurance system.


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