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AI and its Ramifications are a Major Theme of the Davos Conference

Artificial intelligence (AI) is a major topic of conversation at this year’s World Economic Forum meeting of the world’s elites in Davos, Switzerland, both on the public stages and in the private suites where most of the real business is conducted.

Artificial Intelligence (AI) is a significant technological breakthrough that has the potential to significantly increase labor productivity, laying the groundwork for future social progress.

It will, however, have the opposite impact due to its development under capitalism’s social relations, which are predicated on private ownership of the means of production (including so-called intellectual property) and the extraction of private profit.

The WEF’s Global Risks Report for this week’s meeting obliquely acknowledges this truth of political and economic existence that necessitates the creation of socialist economic relations.

It claimed that the coming together of technology advancements and geopolitical dynamics—an indirect allusion to the US-led surge in militarism—would probably produce a new set of winners and losers in both developed and developing nations.

The digital divide between high- and low-income countries will result in a glaring difference in the generation of associated benefits—and risks—if commercial incentives and geopolitical imperatives continue to take precedence over the public interest in the development of… AI and other frontier technologies. In addition to being digitally cut off from advanced AI discoveries that affect financial services, education, health care, the environment, and economic productivity, vulnerable nations and people would also be further left behind.

Put another way, the development of AI will, in the view of the major capitalist powers and the business motive, exacerbate global social inequality and destitution rather than serve as a means of reversing it.

The document also discusses the broad ramifications of artificial intelligence (AI) and other cutting-edge technology.

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