Do not let techno-optimism over AI crowd out concerns of equity

The rise of this technology has left us staring at greater inequality in a world that's already distorted by the power of wealth

- Arun Maira

No business or government would like to be left behind in the artificial intelligence (AI) race. They are excited with the potential of AI to improve the efficiencies of their processes. AI will not increase equity in society, however. The Economist points out. The London-based publication has compiled the forecasts of many experts on the impact of AI on the future of work (The Economist, 13 February 2025). It reveals that inequity in wages is likely to increase further. Lower-skilled jobs will be broken up and eliminated. The best educated will be able to earn even more. Techno-enthusiasts want the world to "push on" because "creative destruction" is the way to progress. Ultimately, everyone will be better off somehow. They ignore the destruction of jobs, lives and communities during this transition to a new technology, which could take more than a generation. Developing countries with large numbers of less educated and poor citizens, like India, where wealth and income inequalities are already very large, must remain wary of the societal and political disruptions that AI will create.

The problem is not what a new technology can do, it is the purpose for which it is used, and for whose benefit. Who will own new technologies and who will control their use are crucial for good governance. It is ominous that Elon Musk, the world's richest man who has accumulated billions of dollars from technology ventures, has taken charge of deregulating the US economy to make it easier for capitalists to make more money. India's Prime Minister Narendra Modi has reportedly discussed the Indian government's mission of 'Minimum government, maximum governance' with Musk.