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Winners and losers in the AI arms race

By Barry Eichengreen

10 May 2023 · 3 min read

Editor's Note

Throughout history, technological advances have created both winners and losers, Barry Eichengreen writes in PS. There's no reason to believe that the benefits of AI won't outweigh the negatives.

BERKELEY – The first rule of forecasting, the financial journalist Jane Bryant Quinn once observed, is this: give them a forecast or give them a date; just never give them both.

So, here’s a not very bold forecast: Generative artificial-intelligence models like ChatGPT will revolutionize the economy. We just can’t say when.

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