Technology leaders’ bullish attitude about the benefits of artificial intelligence was on show at Davos, but policymakers were less optimisticPredictions that the technology will lead to greater inequality dominate discussions at the opening of the World Economic ForumThe threat of artificial intelligence stoking greater inequality and sparking a financial crash provided a stark background to discussions as business leaders, regulators and policymakers gathered in Davos. Twin warnings about the potential threats of AI from the International Monetary Fund and the powerful Basel banking committee helped to set a cautious tone as 2,800 delegates arrived at the Swiss resort. SponsoredThe IMF predicted that about 60 per cent of jobs in advanced economies such as Britain would be affected by machine learning, with negative impacts for about half of them. The losers could be faced with lower salaries, reduced hiring and some jobs disappearing altogether, it said in a report timed to coincide with the World Economic Forum meeting. While business leaders largely have

Source: The Times January 16, 2024 14:38 UTC