AI and creative destruction: how will current rapid advances in AI through large ‘foundation’ models impact on society, the economy and governments?

AI and creative destruction: how will current rapid advances in AI through large ‘foundation’ models impact on society, the economy and governments?

This discussion on 'AI and creative destruction' focused on the rapid advancements in Artificial Intelligence, particularly through large 'foundation' models, and their profound impact on society, the economy, and governments. It gathered leading experts from technology companies, science, venture capital, and government, who expressed both enthusiasm for AI's potential to boost productivity and address drudgery, alongside serious concern over the unprecedented risks of disruption and unintended real-world consequences. Participants acknowledged that the velocity of change, underscored by the viral success of recent generative AI tools, has caught governments unprepared. Key issues debated included the difficulty of aligning AI actions with human intent due to the models being 'grown rather than written,' the potential for further exacerbating inequality and undermining common truths, and the challenges of regulation against a backdrop of intense corporate and geopolitical competition. The conversation explored impacts on information systems (e.g., disinformation and copyright), the future of work, and the imperative for governments to quickly acquire expertise and develop mechanisms, potentially beyond existing regulation, to ensure human control and protect interests.