Rachel Adams
Artificial intelligence is changing the structure of our global economy, but it’s unlikely that everyone will benefit. Advocates for AI celebrate its potential to decode intractable global challenges and even end poverty, but its achievement in that regard are meager. Instead, global inequality is now set to rise. Those countries that are home to AI development and readily able to incorporate these technologies into industry are set to see rising economic growth. But the rest of the world, which faces critical barriers to adopting AI, will be left further and further behind.
The introduction of new technologies into society has historically brought about economic development and growth. Technologies are often designed to do just this by boosting productivity: The sewing machine or the tractor, for example, enabled textiles to be made or crops to be yielded quicker. Since the turn of the century, digital technologies have been a particularly powerful economic force. In the United States, according to a 2021 study, the internet’s contribution to the country’s GDP has increased by 22 percent a year since 2016. The U.S. digital economy is now worth well over $4 trillion.
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