Billionaire investor Paul Tudor Jones says that the rise of artificial intelligence (AI) can cause more collateral damage than someone expected.
In a new OP-ED for TimeJones says that although we can celebrate technological progress, the social costs of game technologies such as AI must also be taken into account.
The founder of the Tudor Investment Corporation refers to a recent warning From Dario Amodei, CEO of Anthropic, who said that in the next one to five years, AI could eliminate about half of all white collar tracks.
Even if Amodei is only half correct, Jones says that such a transformation would create ‘unprecedented social unrest’.
“If we follow the Playbook of the last 45 years where more than 92% of the productivity gains went to shareholders about employees, and if Amodei is even half the same on his unemployment prediction, you can bet that we will be confronted with an unprecedented social revolution.
In the worst-case scenario, the safety network tensions that will place high unemployment in states and municipalities will force many in bankruptcy. The federal government will not be a good backstop, because with a debt-to-BBP ratio of more than 120% does not have the loan capacity it once did. Bond markets will refuel and bring shares. ”
The investor calls for various answers to AI, including a federal law that requires AI content to be marked, so it is clear that the AI is generated. Otherwise Jones says: “People will become irrelevant in the world we are on our way if we do not demand human authenticity.”
Jones also calls for a dual committee that tackles issues of productivity exchange, as well as bilateral conversations with China to “set up shared AI safety protocols to protect the whole world against errors and bad actors.”
“Nothing of this is radical. It is rational. The unemployment data about entry tracks are a call for action. The first signs of the social disruptions of AI are already there.”
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