The technology could enormously improve lives, the economist says but only if the tech titans that self-control it are properly regulated. What we have now is totally inadequate
It must be hard for Joseph Stiglitz to remain an optimist in the face of the terrible future he dreads may be coming. The Nobel laureate and onetime premier economist at the World Bank has thought carefully about how neural networks will affect our lives. On the back of information and communication technologies, we could construct ourselves a richer civilization and perhaps enjoy a shorter cultivating week, he says. But the committee is countless pitfalls to avoid on the way. The ones Stiglitz has in mind are barely insignificant. He worries about hamfisted moves that have contributed to routine using in our everyday lives, that leave society more parted than ever and warn the basic principles of democracy.
” Artificial intellect and robotisation have the potential to increase the productivity of economics and, in principle, who are able to utter everybody better off ,” he says.” But only if they are well managed .”
On 11 September, the Columbia University professor will be in London to deliver the latest chide in the Royal Society's You and AI streak. Stiglitz will talk about the future of succeed, an area where prophecies have been frequent, self-contradictory and unnerving. Last month, the Bank of England's manager economist, Andy Haldane, to point out that ” vast swathes” of Britain's workforce face unemployment as AI and other engineerings automate more positions. He had little to say about the new positions AI may create. A report from PricewaterhouseCoopers in July argued that AI may create as numerous tasks as it destroys- perhaps even more. As with the Industrial Revolution, the destitution would come not from a lack of work, but the difficulty in switching from one task to another.
A distinction Stiglitz performs is between AI that ousts workers and AI that helps people to do another job better. It previously cures physicians to exertion more effectively. At Addenbrooke's hospital in Cambridge, for example, cancer consultants devote less occasion than they used to planning radiotherapy for men with prostate cancer, because an AI system called InnerEye automatically commemorates up the gland on the patients' checks. Medical doctors process patients faster, the three men start treatment sooner and the radiotherapy is handed with more precision.
Source: http :// www.theguardian.com/ us
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