“As artificial intelligence (AI) accounts for an increasing share of future economic activity, the already entrenched secular trend of higher capital income relative to labor income is likely to intensify. This is one of the major reasons for rising wealth and income inequality in the U.S. economy. As AI takes over more and more responsibility for future economic growth and replaces many existing jobs, a major challenge for future social stability will be creating an institutional framework that allows the broad population to share in the abundance of wealth AI promises to create as human and machine intelligence merge and accelerate exponentially over the next two decades. The value of this unprecedented transition is increasingly apparent in the equity prices of the companies that are leading this race into a radically different future.”
Morten W. Langer
