Index Investing News
Friday, May 16, 2025
No Result
View All Result
  • Login
  • Home
  • World
  • Investing
  • Financial
  • Economy
  • Markets
  • Stocks
  • Crypto
  • Property
  • Sport
  • Entertainment
  • Opinion
  • Home
  • World
  • Investing
  • Financial
  • Economy
  • Markets
  • Stocks
  • Crypto
  • Property
  • Sport
  • Entertainment
  • Opinion
No Result
View All Result
Index Investing News
No Result
View All Result

Governance must keep pace with an increasingly unknown future

by Index Investing News
June 8, 2023
in Opinion
Reading Time: 6 mins read
A A
0
Home Opinion
Share on FacebookShare on Twitter


Technology is changing the world faster than policymakers can devise new ways to cope with it. As a result, societies are becoming polarized, inequality is rising, and authoritarian regimes and corporations are doctoring reality and undermining democracy.

For ordinary people, there is ample reason to be “a little bit scared,” as OpenAI chief executive officer Sam Altman recently put it. Major advances in artificial intelligence raise concerns about education, work, warfare and other risks that could destabilize civilization long before climate change does. To his credit, Altman is urging lawmakers to regulate his industry.

In confronting this challenge, we must keep two concerns in mind. The first is the need for speed. If we take too long, we may find ourselves closing the barn door after the horse has bolted. That is what happened with the 1968 Nuclear Non-Proliferation Treaty (NPT): It came 23 years too late. If we had managed to establish some minimal rules after World War II, the NPT’s ultimate goal of nuclear disarmament might have been achievable.

The other concern involves deep uncertainty. This is such a new world that even those working on artificial intelligence (AI) do not know where their inventions will ultimately take us. A law enacted with the best intentions can still backfire. When America’s founders drafted the Second Amendment conferring the “right to keep and bear arms,” they could not have known how firearms technology would change in the future, thereby changing the very meaning of the word “arms.” Nor did they foresee how their descendants would fail to realize this even after seeing the change.

But uncertainty does not justify fatalism. Policymakers can still effectively govern the unknown as long as they keep certain broad considerations in mind. For example, one idea that came up during a recent Senate hearing was to create a licensing system whereby only select corporations would be permitted to work on AI.

This approach comes with some obvious risks of its own. Licensing can often be a step toward cronyism, so we would also need new laws to deter politicians from abusing the system. Moreover, slowing your country’s AI development with additional checks does not mean that others will adopt similar measures. In the worst case, you may find yourself facing adversaries wielding precisely the kind of malevolent tools that you eschewed. That is why AI is best regulated multilaterally, even if that is a tall order in today’s world.

Another big concern is labour. Just as past technological advances reduced demand for manual labour, new applications like ChatGPT may reduce demand for a lot of white-collar labour. But this prospect need not be so worrying. If we can distribute the wealth and income generated by AI equitably across the population, eliminating plenty of work would not be a problem. Far from being diminished by not working, feudal lords were aggrandized by their leisure.

The problem, of course, is that most people do not know how to use free time. Pensioners often become anxious because they do not know what to do with themselves. Now, imagine that happening on a massive scale across younger cohorts. If left unchecked, crime, conflict, and perhaps extremism would become more likely. Averting such outcomes would require modifying our education systems to prepare people for the leisure force. As in earlier eras, education would mean learning how to enjoy the arts, hobbies, reading, and thinking.

A final major concern involves media and the truth. In How to Stand Up to a Dictator, the Nobel laureate journalist Maria Ressa laments that social media has become a powerful tool for promoting fake news. As Amal Clooney points out in her foreword to the book, autocratic leaders can now rely on “an army of bots” to create the impression that “there is only one side to every story.”

This is a bigger challenge than most people realize. It will not go away even if we pass laws prohibiting automated disinformation. As Amartya Sen pointed out more than 40 years ago, all description entails choice. Reality is so complex that we cannot possibly represent it without making decisions about what to include and what to omit. In a world that is drowning in information, savvy influencers do not need to make up news; they can simply be biased in what they choose to report. News outlets can influence voters’ opinions in ways both subtle and flagrant. Just compare the images of Donald Trump and of Joe Biden that Fox News chooses.

We cannot solve the problem of authoritarian influence by banning fake news. Our best hope again lies in education. We will need to do a better job teaching people to be discerning and less susceptible to manipulation.

Innovation in law and policy must go hand in hand with innovation in education, and all are necessary to keep up with innovation in technology. ©2023/Project Syndicate

Kaushik Basu is a professor of economics at Cornell University and a former chief economic adviser to the Government of India.

Catch all the Business News, Market News, Breaking News Events and Latest News Updates on Live Mint.
Download The Mint News App to get Daily Market Updates.

More
Less

Updated: 08 Jun 2023, 11:48 PM IST



Source link

Tags: futuregovernanceincreasinglypaceunknown
ShareTweetShareShare
Previous Post

Investing with AI Models: Uncovering Hidden Trading Patterns

Next Post

Bosses must distinguish harassment from leadership

Related Posts

The US-China commerce truce doesn’t clear up the Fed’s headache

The US-China commerce truce doesn’t clear up the Fed’s headache

by Index Investing News
May 16, 2025
0

The settlement between the US and China to roll again their respective tariffs for 90 days has led to renewed...

Insane progressive leniency retains letting extra younger terrors skirt

Insane progressive leniency retains letting extra younger terrors skirt

by Index Investing News
May 16, 2025
0

Progressives and their insane leniency strike once more. In Colorado, a prog prosecutor mainly let a 15-year-old unlawful immigrant stroll...

World Inhabitants Is Projected To Start Declining In 2085 – FREEDOMBUNKER

World Inhabitants Is Projected To Start Declining In 2085 – FREEDOMBUNKER

by Index Investing News
May 16, 2025
0

The worldwide inhabitants is present process a significant demographic shift.As fertility charges fall and life expectancy rises, common ages are...

Air site visitors controller union is … uncontrolled

Air site visitors controller union is … uncontrolled

by Index Investing News
May 15, 2025
0

Because the air site visitors management disaster drags on, placing lives in peril and snarling logistics at key journey hubs,...

Line of conscience: Why didn’t luxurious manufacturers communicate up?

Line of conscience: Why didn’t luxurious manufacturers communicate up?

by Index Investing News
May 15, 2025
0

Again then, I used to be enchanted by the craft. The heritage. The obsession with element. However through the years,...

Next Post
Bosses must distinguish harassment from leadership

Bosses must distinguish harassment from leadership

Fannie Mae is Bearish on Housing and is Projecting a “Mild” Recession

Fannie Mae is Bearish on Housing and is Projecting a "Mild" Recession

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

RECOMMENDED

Protesters in Iraq storm Swedish Embassy amid uproar over planned Qur’an burning in Stockholm

Protesters in Iraq storm Swedish Embassy amid uproar over planned Qur’an burning in Stockholm

July 20, 2023
Haiti’s gang violence nears conflict, help needed

Haiti’s gang violence nears conflict, help needed

April 25, 2023
Ron Johnson Live-Size Manure Sculpture Visits Senate Office

Ron Johnson Live-Size Manure Sculpture Visits Senate Office

October 15, 2022
Trump desires Supreme Court docket to intervene in hush cash sentencing

Trump desires Supreme Court docket to intervene in hush cash sentencing

January 8, 2025
New Itemizing Open Home Sunday with Ocean Views

New Itemizing Open Home Sunday with Ocean Views

May 3, 2025
70 All-Star & Graham Worth Shares: 57 Match To Purchase In June

70 All-Star & Graham Worth Shares: 57 Match To Purchase In June

June 21, 2024
‘Doctor Who’ New Trailer Reveals Episode Titles For 60th Anniversary Specials – Deadline

‘Doctor Who’ New Trailer Reveals Episode Titles For 60th Anniversary Specials – Deadline

May 13, 2023
Everybody can see the massive teddy bear however you’ve got 20/20 imaginative and prescient for those who can spot the cactus in lower than 7 seconds

Everybody can see the massive teddy bear however you’ve got 20/20 imaginative and prescient for those who can spot the cactus in lower than 7 seconds

January 26, 2025
Index Investing News

Get the latest news and follow the coverage of Investing, World News, Stocks, Market Analysis, Business & Financial News, and more from the top trusted sources.

  • 1717575246.7
  • Browse the latest news about investing and more
  • Contact us
  • Cookie Privacy Policy
  • Disclaimer
  • DMCA
  • Privacy Policy
  • Terms and Conditions
  • xtw18387b488

Copyright © 2022 - Index Investing News.
Index Investing News is not responsible for the content of external sites.

No Result
View All Result
  • Home
  • World
  • Investing
  • Financial
  • Economy
  • Markets
  • Stocks
  • Crypto
  • Property
  • Sport
  • Entertainment
  • Opinion

Copyright © 2022 - Index Investing News.
Index Investing News is not responsible for the content of external sites.

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In