The AI Octopus
If artificial intelligence lives up to its promise and becomes the lifeblood of every sector of the economy, we can expect a future of economic concentration and corporate political power that dwarfs anything that came before. Collusion and coordination among a handful of players make that outcome all but inevitable.
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CHICAGO – With long-gestating antitrust cases against Google, Apple, and Amazon coming to fruition, many observers think that 2024 could be a turning point for Big Tech. Yet even as authorities press ahead with this litigation, they risk being blindsided by the rise of artificial intelligence, which is likely to reinforce Big Tech’s dominance of the economy.