Weigh pros and cons before randomly using AI technology

Artificial intelligence was a catchword at the Summer Davos forum in Dalian, Liaoning province, which concluded on Thursday. While participants from the academia, governments and the corporate sector had in-depth discussions on the future of AI technology at the three-day event, consultancy companies released reports highlighting the economic benefits of AI for China and the world at large.

Global GDP in 2030 will be 14 percent higher — an addition of $15.7 trillion — as a result of AI thanks to improving labor productivity and increasing consumer demand owing to the fast-paced application of AI technology, says a report by consultancy company PricewaterhouseCoopers, which was released on Tuesday on the sidelines of the Summer Davos forum or, officially, the Annual Meeting of the New Champions 2017.

And an Accenture report says AI could help China’s economic growth accelerate to 7.9 percent from 6.3 percent by 2035, by “transforming the nature of work and opening new sources of value and growth”.

The two reports could boost the morale of economic policymakers and the public, and testify to the power of technology in transforming not only people’s daily lives, but also economic activities as a whole.

However, history tells us that, while technological advancements have brought us benefits, they have also led to great social upheavals, by, for example, changing the production and labor structures, and forcing many workers to either adapt to the changes or lose their jobs. In the 18th century, for instance, skilled workers rose up in revolt to resist the Industrial Revolution, with their protests culminating in the Luddite Movement that saw textile workers and weavers destroying machinery in the early 19th century.

While we may gain a lot of benefits from AI, we must work out plans to offset its negative impact on society, especially for workers.