The Future of Artificial Intelligence and its Impact Upon Society and the Economy

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The Future of Artificial Intelligence and its Impact Upon Society and the Economy
Anthony Ambrosius Aurelius

“90% of all recorded data throughout human history has occurred between 2017 – 2019.

For centuries, governments have restricted inventions for fear of disruption with notable examples including the Ottoman Empire banning the printing press, the Chinese empire outlawing voyages of discovery, Pope Urban VIII who imprisoned Galileo Galilei, and Queen Elizabeth I who prohibited weaving machines which would displace tapestry workers.

Much of the modern world has been invented because of invention, in a cyclical effect which provides even more invention as inventors have more time to create when they are not worried about where their next paycheque is going to come from. As the middle class grew in size, so too did the inventions gifted to society. It could be argued that a middle class person lives better today than the wealthiest people throughout history ever could as none of these individuals had smartphones, complicated cardiac surgery, antibiotics etc. The U.S. went from being an experiment in democracy and a colonial backwater to the most technologically advanced and industrialized country in the world and this occurred because those who founded the country understood that the U.S. could not farm its way to wealth and that innovation had to be encouraged and promoted. Because of this simple but novel idea, this drove the process and the ability of ordinary people to invent and make life easier for everyone, able to profit from these ideas because of patent protection. The Americans developed a system in which new ideas were sought after because they were profitable which is a much more powerful motivating factor than prestige or the will to help the greater collective of civilization. It’s not that the U.S. has more inventive people than other states, it’s that the government decided to back and support those who did invent by providing them with a high probability path toward fortune. Protecting invention is single handedly one of the most important innovations ever developed by the U.S., and even during the modern era, counties which fail to inspire innovation and protect it from theft and exploitation, continue to play catch up with industrialized nations which do reward and promote innovation.”

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