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Opinion
Tyler Cowen

Artificial Intelligence Could Be a Great Equalizer

The benefits of AI will accrue not only to the wealthy and technologists but also to the poor and disadvantaged.

AI is having a breakthrough year.

AI is having a breakthrough year.

Photographer: Stefani Reynolds/AFP

If 2021 was the breakthrough year for mRNA vaccines, then 2022 may be the breakthrough year for artificial intelligence. So far there have been major advances in text generation and image generation, and now investor Nat Friedman is predicting big developments in AI personal voice assistants. More innovation will surely follow.

With so much in the works, it is worth reviewing some basic principles of how AI is likely to affect the US and global economies.