ETHOS FOR SUSTAINABLE AI

Sanjeewaka Kulathunga is prioritising sustainable artificial intelligence

Artificial intelligence is creating a paradigm shift in the global economic outlook and posing significant challenges for the political economy. Complexities in labour markets, economic inequalities, governance, ethical dilemmas and the world order demand nuanced policies – and frameworks that will address the multifaceted nature of AI’s disruption.

These challenges extend beyond the technical realm into societal structures, and require a rethinking of traditional economic and political paradigms.

AI’s ability to automate tasks has fundamentally reshaped labour markets globally. Automation improves efficiency and reduces costs; but it also displaces jobs, particularly those involving routine or repetitive tasks.

NET JOB CREATION According to the World Economic Forum (WEF), AI and automation could lead to the displacement of 85 million jobs this year while simultaneously creating 97 million new positions.

Though these numbers suggest a net job creation, the transition period is fraught with challenges – particularly for workers in sectors that are vulnerable to automation.

The political economy must grapple with the societal implications of these shifts. Policies focussing on education reform, lifelong learning and social safety nets will be crucial to mitigating unemployment risks, and ensuring equitable economic participation.

Governments and businesses should invest in reskilling and upskilling programmes, which will ensure that workers are equipped to transition into emerging industries.

Failure to address these challenges may lead to increased inequality, social unrest and political instability, as displaced workers and their communities struggle to adapt to the new economic landscape.

AI exacerbates economic inequality by concentrating wealth and power in the hands of those who control its technologies. Businesses that use it enjoy productivity gains and competitive advantages, often at the expense of smaller businesses and traditional industries.

This dynamic reinforces income and wealth disparities within and between nations with tech savvy countries outpacing those that are struggling to adopt artificial intelligence.

The rapid evolution of AI has outpaced the ability of political institutions to regulate it, and created gaps in data privacy, algorithmic bias, cybersecurity and so on. Ethical concerns about fairness and transparency in artificial intelligence driven sectors – such as finance and healthcare – highlight the knowledge disparity between policy makers and AI developers.

Effective governance requires international cooperation to establish global standards that foster innovation while managing risks. Additionally, the role of AI as a strategic asset has intensified geopolitical competition.

GLOBAL INEQUALITIES There are increasing concerns about the marginalisation of smaller economies and global inequalities. And the militarisation of artificial intelligence underscores the need for international treaties and equitable access to its resources, to ensure a fair and inclusive ecosystem.

The integration of AI into political and economic systems raises profound ethical and philosophical questions. Issues such as algorithmic transparency, fairness and accountability challenge traditional governance and societal values.

For instance, decisions made by AI systems in critical areas such as healthcare and criminal justice necessitate robust frame­works, to ensure alignment with democratic principles and human rights.

Furthermore, AI driven technologies prompt deeper questions about human agency and autonomy. As machines take over tasks traditionally performed by humans, society must reconsider the value of meaningful work and individual dignity.

And policy makers must balance the benefits of automation with the preservation of meaningful human roles in the economy.

SUSTAINABLE AI The environmental impact of artificial intelligence is significant due to the high energy consumption of machine learning systems, which increase carbon emissions and the use of natural resources.

To mitigate this, policies should promote sustainable AI development through energy efficient algorithms, renewable energy in data centres and research into low power consumption systems. Ensuring sustainability is essential to balancing the benefits of artificial intelligence with environmental preservation.

International collaboration, ethical standards, and investments in education and sustainability are essential to navigate this transformative era.

To ensure that AI drives equitable and sustainable progress rather than exacerbating social divisions, policy makers must act with foresight and inclusivity to enable society to harness its potential for the collective good while upholding justice and equity.

AI exacerbates economic inequality