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AI will spell the end of capitalism

BEIJING — The most momentous challenge facing socio-economic systems today is the arrival of artificial intelligence.

  • Feng Xiang
  • The Washington Post

If AI remains under the control of market forces, it will inexorably result in a super-rich oligopoly of data billionaires who reap the wealth created by robots that displace human labor, leaving massive unemployment in their wake.

Gox 3cBut China’s socialist market economy could provide a solution to this.

If AI rationally allocates resources through big data analysis, and if robust feedback loops can supplant the imperfections of “the invisible hand” while fairly sharing the vast wealth it creates, a planned economy that actually works could at last be…

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