How does AI generate riches, redistribute wealth and distort the labour market in multi-cultural societies? How will AI distort off-shoring and upend the traditional development model? As AI displaces humans from their jobs, economic value will be transferred from labour to capitalists, particularly the ‘super-elites’. In an era where capital is mobile while labour is less so, AI will exacerbate already-high levels of inequality if left unmanaged.
Dr. Kai L. Chan is a distinguished fellow at INSEAD Innovation and Policy Initiative.View Profile