Put me down as an AI optimist. Artificial intelligence has the potential to transform the economy and make Americans richer, healthier and more productive. I’d bet money on it — in fact I have, through the shares I own in an index fund, which means I am long the US economy.
That said, there are certain things not even AI can do, and one of them is suspending the basic laws of economics. Elon Musk recently predicted that AI will create such abundance that in a decade or two, people won’t need to bother saving for retirement. Feel free to check my answer with your favorite AI, but: Don’t count on it.
Continue reading the entire piece here at Bloomberg Opinion (paywall)
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Allison Schrager is a senior fellow at the Manhattan Institute and a contributing editor of City Journal.
Photo by Fabrice COFFRINI / AFP via Getty Images