The AI Awakening

November 30, 2023--Generative AI has introduced tantalizing new possibilities. Yet the initial excitement surrounding AI has given way to genuine and growing concerns. This issue is an early attempt to understand AI's implications for growth, jobs, inequality, and finance.
Full disclosure: This issue of Finance & Development was produced entirely with human intelligence.

But someday soon at least parts of this magazine may be assisted by artificial intelligence-a topic that has dominated global discourse since ChatGPT's introduction one year ago.

Generative AI has introduced tantalizing new possibilities in both the public and private spheres. Think how these "machines of the mind" can improve health care diagnoses, close education gaps, tackle food insecurity with more efficient farming, drive planetary exploration-not to mention eliminate the drudgery of work.

Yet the initial excitement surrounding AI has given way to genuine and growing concerns-including about the spread of misinformation that disrupts democracy and destabilizes economies, threats to jobs across the skills spectrum, a widening of the gulf separating the haves and have-nots, and the proliferation of biases, both human and computational.

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