Artificial intelligence will unlock new opportunities for jobs and economic activity, but will pose the same thorny issues around displaced workers that trade does until better institutions are created, according to a panel at a leading banking conference on Saturday.
The Institute of International Finance heard from experts including MIT professor David Autor and Susan Lund, a partner at the McKinsey Global Institute.
Autor in particular said the mistakes like those that were made in trade policy–like letting China into the World Trade Organization, which decimated manufacturing jobs — shouldn’t be repeated. “If we knew then what we know now about China accession to the WTO, we might have slowed it,” he said.
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