AI and robotics will transform the world and will bring unimaginable changes to the global economy, politics, warfare, foreign policy, emotional well-being, environment, and how we educate and raise our children. Through his report presented to Congress a few months back, on AI, US Senator Bernie Sanders has unboxed a sour issue.

The report is no science fiction but is drawn on verified data and candid words of the very people driving this revolution. The fundamental issue raised in this report is the absence of a regulatory mechanism. It highlights that a handful of the world’s wealthiest corporate bigwigs are collectively injecting billions of dollars into AI and robotics, with virtually no oversight regime put in place.

Going by their record of public statements, accountability in this regard seems to be nowhere or very low on the agenda. The Trump administration has moved to prevent individual states from even trying to regulate on their own. From the fundamental issue of the absence of a regulatory mechanism stems the overarching question: why must alarm bells not ring when technology magnates actively resist any checks on their power?

A handful of the world’s wealthiest corporate bigwigs are collectively injecting billions of dollars into AI and robotics, with virtually no oversight regime put in place.

A handful of the world’s wealthiest corporate bigwigs are collectively injecting billions of dollars into AI and robotics, with virtually no oversight regime put in place.

They must, on various accounts. Let us take on the economic consequences which are laid out in the report. They........

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