Artificial Intelligence and what it means for our economy is a source of ongoing debate in both the government and private sectors. The Obama White House issued a report on the subject as part of its last hurrah.
Titled “Artificial Intelligence, Automation, and the Economy,” the White House Report considers the implications of AI for both society and the workforce. It addresses critical questions, such as: Will AI technologies enhance productivity and quality of life, or will it disrupt labor markets and accelerate growth in income disparity and wealth concentration? Will AI research be used for the common good, or will it be exploited for commercial gain? And it examines how actions by the federal government could help to shape the future of the economy and the workforce to maximize the benefits of AI for all.
The Report focuses largely on the effect increasing automation will have on the American workforce, concluding with the rather optimistic statement, “Given appropriate attention and the right policy and institutional responses, advanced automation can be compatible with productivity, high levels of employment, and more broadly shared prosperity.” Toward that end, the Report offers three Policy Responses:
- Strategy #1: Invest in and develop AI for its many benefits.
- Strategy #2: Educate and train Americans for jobs of the future.
- Strategy #3: Aid workers in the transition and empower workers to ensure broadly shared growth.
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Will the Trump administration continue with AI policy development where the Obama administration left off? Good question. But the answer is far from clear. So far, it seems that the Trump White House is more fixated on returning 20th century manufacturing jobs to the U.S. than developing 21st century technology. Given the state of AI research and implementation, it would appear that we need to focus on retraining and retooling American workers and factories to accommodate a future that is bound to include intelligent machines.