Geoffrey Hinton, known as the “godfather of AI,” has voiced concerns over artificial intelligence leading to widespread unemployment and increased profits.
AI Will Replace Workers, Says Hinton
The Nobel laureate and former Google scientist believes AI will replace workers, enriching a few while impoverishing many. Hinton attributes this to the capitalist system rather than AI itself, according to an interview in the Financial Times.
"What's actually going to happen is rich people are going to use AI to replace workers," Hinton said. "It's going to create massive unemployment and a huge rise in profits. It will make a few people much richer and most people poorer. That's not AI's fault, that is the capitalist system."
Short-Term Profits Over Long-Term Impacts
In his interview, Hinton highlighted that AI companies prioritize short-term profits over long-term impacts. Although layoffs haven’t surged yet, evidence suggests AI is reducing job opportunities, particularly for recent graduates.
A survey by the New York Fed indicates companies using AI prefer retraining employees over firing them, but layoffs are anticipated to rise soon.
Hinton also noted that healthcare might remain unaffected by AI-driven job losses, suggesting increased efficiency could lead to more accessible healthcare.
He dismissed OpenAI CEO Sam Altman‘s proposal for a universal basic income, arguing it doesn’t address human dignity. Hinton has consistently warned about AI’s risks, including potential misuse for harmful purposes, and criticized the lack of regulation in the U.S. compared to China.
AI Still Beneficial, Says Hinton
Despite these concerns, Hinton acknowledged AI’s potential benefits and shared his personal use of OpenAI’s ChatGPT for research. He also clarified that his departure from Google was due to retirement, not to freely discuss AI risks.
Bill Gates And Elon Musk On AI
The debate on AI’s impact on employment is intensifying. Tech leaders like Bill Gates and Elon Musk have expressed varying views, with some suggesting AI could enhance productivity rather than cause distress.
For instance, Alorica, a customer-service company, uses AI to communicate in multiple languages, yet continues hiring aggressively.
Meanwhile, Altman has stated that AI can perform entry-level tasks and urges the next generation to embrace AI technology.
Altman believes that while jobs may evolve, opportunities will persist, contrasting with investor Vinod Khosla’s prediction that AI could replace a significant portion of job tasks.
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Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
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