BANK OF HONG KONG: AI OR FURTHER DIVIDE BETWEEN RICH AND POOR

ON 12 AUGUST, ACCORDING TO AN ANALYSIS BY THE BANQUE FRANÇAIS DE DÉVELOPPEMENT, ARTIFICIAL INTELLIGENCE WAS LIKELY TO ACCELERATE THE DEVELOPMENT OF THE K-TYPE ECONOMY, UNDER WHICH REVENUES WERE INCREASINGLY CONCENTRATED AMONG THE ALREADY TOP POPULATION GROUPS. THE ANALYSIS NOTES THAT WHILE ARTIFICIAL INTELLIGENCE CAN HELP LOW-SPECIALIZED WORKERS TO PERFORM MORE COMPLEX TASKS TO REDUCE THE WAGE GAP, ITS IMPACT ON WEALTH CAN BE QUITE DIFFERENT. THIS MAY LEAD TO FURTHER CONCENTRATION OF WEALTH BECAUSE ARTIFICIAL INTELLIGENCE REWARDS OWNERSHIP OF COMPUTING CAPABILITIES, MODELS, DATA AND FINANCIAL ASSETS. THIS TREND IS ALREADY EVIDENT IN THE GROWING DOMINANCE OF THE STOCK MARKET AND CORPORATE PROFITS OF ARTIFICIAL INTELLIGENCE WINNERS。