Let the public share in the rewards of artificial intelligence
Key takeaways
- The Information just reported that the world s largest private equity firm, Blackstone, is partnering with AI company Anthropic to push a top-down AI overhaul of private equity-owned sectors.
- Unfortunately, mass unemployment is only one of the potential harms of the AI revolution underway.
- While those are huge problems for the public, private shareholders feel little obligation to address them.
Why this matters: political developments that affect policy direction and public trust.
The Information just reported that the world s largest private equity firm, Blackstone, is partnering with AI company Anthropic to push a top-down AI overhaul of private equity-owned sectors. Why? To slash jobs across their portfolio of over 250 companies, including healthcare, financial services, and hospitality.
Unfortunately, mass unemployment is only one of the potential harms of the AI revolution underway. AI poses a wide array of public harms that appear set to grow, exponentially, over time. These concerns range from systematic theft to widespread algorithmic discrimination to consolidation of economic and political power in a handful of companies.
While those are huge problems for the public, private shareholders feel little obligation to address them.