{"id":75199,"date":"2024-12-12T02:13:48","date_gmt":"2024-12-12T07:13:48","guid":{"rendered":"https:\/\/world.edu\/?p=75199"},"modified":"2024-12-12T02:13:48","modified_gmt":"2024-12-12T07:13:48","slug":"nobel-prize-winners-in-economics-are-more-concerned-about-the-social-imbalances-generated-by-ai-than-the-creation-of-super-robots","status":"publish","type":"post","link":"https:\/\/world.edu\/nobel-prize-winners-in-economics-are-more-concerned-about-the-social-imbalances-generated-by-ai-than-the-creation-of-super-robots\/","title":{"rendered":"Nobel Prize winners in economics are more concerned about the social imbalances generated by AI than the creation of super robots"},"content":{"rendered":"

\"\"
\nDaron Acemoglu<\/a>\u00a0,\u00a0Simon Johnson<\/a>\u00a0and\u00a0James A. Robinson<\/a>\u00a0receive the 2024 Nobel Prize in Economics. Their merit? Having contributed to economics in terms of institutions and development. The winners argue that, with the emergence of artificial intelligence, we are facing a social crossroads and propose a way to address it.<\/p>\n

The ideas of the winners<\/strong><\/h4>\n

These economists advocate the need to develop inclusive social institutions. They argue that\u00a0this is the only way for nations to prosper<\/a>\u00a0.<\/p>\n

What do they mean by inclusive institutions? Institutions that seek the benefit of all citizens. That is, institutions that have not been created by a small elite to satisfy their own interests, but that distribute the benefits of any social progress among all citizens.<\/p>\n

While the thesis has been widely welcomed in the academic world,\u00a0it has also drawn criticism<\/a>\u00a0. Political scientist\u00a0Yuen Yuen Ang<\/a>\u00a0has expressed doubts about the empirical validity of the laureates’ work. She claims that their theory\u00a0has no general validity<\/a>\u00a0and therefore cannot be extrapolated to non-democratic countries such as China.<\/p>\n

Furthermore, the award winners defend the importance of citizen participation and that everyone, companies, administrations and communities, must contribute to the creation of new institutions that will shape a future in which AI will be decisively present.<\/p>\n

Social rebalancing around AI<\/strong><\/h4>\n

With these arguments, Acemoglu and Johnson have analyzed in their book\u00a0Power and Progress<\/em><\/a>\u00a0(2023) the crossroads that opens with\u00a0the emergence of artificial intelligence<\/a>\u00a0and its integration into social life.<\/p>\n

The authors argue that, as has happened before, this disruptive technology will profoundly change the configuration of society and, rather than being concerned about the possible superrobots it may generate, they fear the social and power imbalances that may arise depending on how AI is regulated and integrated.<\/p>\n

They also argue that although artificial intelligence may be a source of profits, this does not mean that they will be distributed equally. The excessive power exercised by the companies that create and develop these technologies can lead to great inequality, which may be particularly relevant in labour markets.<\/p>\n

Citizen voice<\/strong><\/h4>\n

Hence the importance of giving citizens a voice when designing the institutional framework that will integrate AI into our lives. It is essential to establish inclusive institutions. In this way, the costs and benefits of AI will be shared and borne by all social groups and not enjoyed exclusively by an elite at the expense of workers.<\/p>\n

In an interview with UNESCO after the award was announced, Acemoglu stressed the importance of citizens in democratic countries having a say in the institutional development of AI. As he himself says: \u201cCitizens have more power than we sometimes think.\u201d<\/p>\n

Author Bio:<\/strong> Beatriz Simon Yarza is Professor of Economics at the University of Navarra<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"

Daron Acemoglu\u00a0,\u00a0Simon Johnson\u00a0and\u00a0James A. Robinson\u00a0receive the 2024 Nobel Prize in Economics. Their merit? Having contributed to economics in terms of institutions and development. The winners argue that, with the emergence of artificial intelligence, we are facing a social crossroads and propose a way to address it. The ideas of the winners These economists advocate the […]\n… learn more→<\/a><\/p>","protected":false},"author":33,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[434804],"tags":[435194],"coauthors":[11733],"class_list":["post-75199","post","type-post","status-publish","format-standard","hentry","category-artificial-intelligence","tag-social-rebalancing"],"acf":[],"yoast_head":"\nNobel Prize winners in economics are more concerned about the social imbalances generated by AI than the creation of super robots - World leading higher education information and services<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/world.edu\/nobel-prize-winners-in-economics-are-more-concerned-about-the-social-imbalances-generated-by-ai-than-the-creation-of-super-robots\/\" class=\"yoast-seo-meta-tag\" \/>\n<meta property=\"og:locale\" content=\"en_US\" class=\"yoast-seo-meta-tag\" \/>\n<meta property=\"og:type\" content=\"article\" class=\"yoast-seo-meta-tag\" \/>\n<meta property=\"og:title\" content=\"Nobel Prize winners in economics are more concerned about the social imbalances generated by AI than the creation of super robots - World leading higher education information and services\" class=\"yoast-seo-meta-tag\" \/>\n<meta property=\"og:description\" content=\"Daron Acemoglu\u00a0,\u00a0Simon Johnson\u00a0and\u00a0James A. 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