Artificial Intelligence Holds Potential to Increase Economic Inequality

Artificial intelligence (AI) has the potential to increase living standards and leisure hours, but it could also increase economic inequality, according to report released Tuesday by the White House. The report found that the employees that would see the most pressure from automated technology are lower paid, lower skilled, and less educated. “This means that automation will continue to put downward pressure on demand for this group, putting downward pressure on wages and upward pressure on inequality,” stated the report. The report compared the economic inequality that artificial intelligence could cause to the plight of factory workers in the Industrial Revolution. The overall population benefited from the rise in mass production, however skilled artisans who were used to overseeing the full production process of an item saw their livelihoods threatened by…

Link to Full Article: Artificial Intelligence Holds Potential to Increase Economic Inequality

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