The people building AI say it poses an existential risk. Amba Kak thinks the bigger danger is not the machines, but the monopolies that own them, and that governments may already be slowly bailing them out.
Amba Kak is Co-Executive Director of the AI Now Institute, a former Senior Advisor on AI at the US Federal Trade Commission and a member of New York Mayor Zohran Mamdani’s transition team.
To make good on the roughly $5 trillion of AI spending committed over the next five years, Bain estimates the industry would need close to $2 trillion in annual revenue, more than the entire global enterprise software market.
If that revenue does not arrive, who is on the hook?
Amba explains why AI investment is moving from Big Tech’s cash reserves into debt markets that reach our 401(k)s and insurance policies, and why she believes a “slow bailout” is already underway.
Watch the full episode here.
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