Kaushik Basu warns that the accelerating AI race between the United States and China has heightened fears of rogue bots and even human extinction, shifting focus to what the technology may do to people rather than for them.
He argues that a tax policy reducing concentrations of financial power in Big Tech would limit the risk of AI being deployed for a power grab, and that curbing wealth concentration is essential to avoid an AI apocalypse. The analysis warns that without such measures, AI could be used for a power grab by entities with concentrated wealth.
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