“But AI is being boosted by massive public investment as well. Such financing should be governed for the common good, not in the interest of the few. We need a digital architecture that shares the rewards of collective value creation more equitably. The era of light-touch self-regulation must end. When we allow market fundamentalism to prevail, the state and taxpayers are condemned to come to the rescue after the fact (as we have seen in the context of the 2008 financial crisis and the COVID-19 pandemic), usually at great financial cost and with long-lasting social scarring. Worse, with AI, we do not even know if an ex post intervention will be enough. As The Economist recently pointed out, AI developers themselves are often surprised by the power of their creations.”
AI in the Common Interest | by Gabriela Ramos & Mariana Mazzucato - Project Syndicate
https://www.project-syndicate.org/commentary/ethical-ai-requires-state-regulatory-frameworks-capacity-building-by-gabriela-ramos-and-mariana-mazzucato-2022-12
via Instapaper
AI in the Common Interest | by Gabriela Ramos & Mariana Mazzucato - Project Syndicate
https://www.project-syndicate.org/commentary/ethical-ai-requires-state-regulatory-frameworks-capacity-building-by-gabriela-ramos-and-mariana-mazzucato-2022-12
via Instapaper