AI financial doom scenario by Yuval Harari

Only 1% of people understand finance.
Finance is a production of social trust between millions of strangers, who can share their resources, and knowledge and work together
Horses do not understand money, but for AI finance is very easy to understand and improve, it is only data.
AI-based financial systems may be impossible for humans to understand and supervise, and then 1% goes to 0%.
Not understanding finance and economy => not being able to hold AI accountable => end of democracy.
We did big historical transitions already, like the Industrial Revolution, which ended up well - but with failed and bloody social experiments, like industrial imperialism or industrial communism, resulting in millions of deaths.
With far more powerful and constantly improving tech the price of blood and violence may be way higher.
There is hope, but we must create new institutions to handle the AI transition.

AI financial doom scenario by Yuval Harari

Only 1% of people understand finance.
Finance is a production of social trust between millions of strangers, who can share their resources, and knowledge and work together
Horses do not understand money, but for AI finance is very easy to understand and improve, it is only data.
AI-based financial systems may be impossible for humans to understand and supervise, and then 1% goes to 0%.
Not understanding finance and economy => not being able to hold AI accountable => end of democracy.
We did big historical transitions already, like the Industrial Revolution, which ended up well - but with failed and bloody social experiments, like industrial imperialism or industrial communism, resulting in millions of deaths.
With far more powerful and constantly improving tech the price of blood and violence may be way higher.
There is hope, but we must create new institutions to handle the AI transition.

https://www.youtube.com/watch?v=_eYDNcSYUCA