Recently Jon Stewart did a segment poking satire at the promises of AI highlighted by tech CEOs. I don't think automating your toasters is the best way to show the potential of AI, as Jon did, but I do agree with the central premise of his argument that disruption caused by AI will be harnessed to prioritize profits over people. It will likely cause one of the largest and fastest labor displacements in human history. I run an AI company based in Silicon Valley focused on solving climate change, and I am a former policymaker for the government of India. At the World Economic Forum Davos 2024, my discussions with media, heads of state, and CEOs of Fortune 500 companies underscored global perspectives on AI, where AI was widely discussed to unlock the next productivity revolution, foster wealth creation, and uplift people out of poverty by democratizing and reducing the cost of access to information/education.

One of the most spectacular facts of the last two centuries of economic history is the exponential growth in GDP per capita in most of the world. Figure 1 shows the rise (and the difference) in living standards for five countries since 1000 AD. This economic progress, unprecedented in human history, would be impossible without major breakthroughs in technology. The economic historian Joel Mokyr has argued that the Enlightenment in Britain brought new ways to transfer scientific discoveries into practical tools for engineers and artisans. The steam engine, electricity, sanitation are examples of technological discoveries that propelled the engine of economic growth, increasing standards of living across the planet.