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AI and unpredictability
The author emphasised that AI is unique among all the new technologies developed by humans as it can make decisions, create new ideas, and learn on its own. While pointing out that the finance sector is the most suited for AI as it is data-driven, the author also said that it could be a serious source of the AI-made crisis.
He highlighted the possibility of AI gaining control over the world’s financial systems and creating complex financial tools that humans may be incapable of understanding or regulating. Harari drew parallels between the financial crisis of 2007-07 which was an outcome of the issues created by complex debt instruments such as collateralised debt obligations (CDOs) which were poorly understood and regulated. ...
See the full story here: https://indianexpress.com/article/technology/artificial-intelligence/yuval-noah-harari-finacial-crisis-ai-9045537/