Analysis-Will AI be an economic blessing or curse? History offers clues


Artificial Intelligence words are seen in this illustration taken March 31, 2023. REUTERS/Dado Ruvic/Illustration/File Photo

(Reuters) - If medieval advances in the plough didn't lift Europe's peasants out of poverty, it was largely because their rulers took the wealth generated by the new gains in output and used it to build cathedrals instead.

Economists say something similar could happen with artificial intelligence (AI) if it enters our lives in such a way that the touted benefits are enjoyed by the few rather than the many.

The Star Festive Promo: Get 35% OFF Digital Access

Monthly Plan

RM 13.90/month

Best Value

Annual Plan

RM 12.33/month

RM 8.02/month

Billed as RM 96.20 for the 1st year, RM 148 thereafter.

Follow us on our official WhatsApp channel for breaking news alerts and key updates!

Next In Tech News

US space stocks rise after Musk's SpaceX merges with xAI at $1.25 trillion valuation
Exclusive-Despite new curbs, Elon Musk’s Grok at times produces sexualized images - even when told subjects didn’t consent
Apple’s new AirTag tracker is better, but not upgrade-worthy
Waymo raises US$16bil (RM62.8bil) in robotaxi race with Tesla
What is Slippery Fish? A secret project to win Olympic speedskating medals with help from an app
Nintendo posts quarterly profit rise, sees no major hit from chip price spike
Some companies tie AI to layoffs, but the reality is more complicated
JPJ: MyDigital ID as sole log-in for app now postponed to March 1
Musk Inc? Billionaire combines his rocket and AI businesses before an expected IPO this year
OpenClaw's AI agent does everything, even social media

Others Also Read