AI could become “radically” more powerful over the next 10 years, according to a letter titled “We Must Act Now”, which has been signed by more than 200 economists, Nobel laureates, and industry leaders. This phenomenon is said to transform world economies in an unprecedented manner, touted to be larger than the Industrial Revolution. However, this change is predicted to unfold over a significantly shorter period of time. This rapid transformation poses significant risks, the statement notes. Among other risks, AI’s unprecedented transformation of economies is said to cause “large-scale job displacements”.
