KUCHING: Nobel Prize-winning economist Joseph Stiglitz urges nations to adapt to artificial intelligence (AI) and automation, calling for balanced economic restructuring to boost productivity while safeguarding jobs and worker protections
Despite the capabilities of AI, the University Professor of Economics at Columbia University said that there are certain tasks that AI simply cannot replace.
“It’s amazing what it can do, but it has its limits. AI can’t do investigative reporting therefore, we still need humans to do real research.
“Moreover, although AI can process large amounts of data and generate basic content, it struggles to produce high-quality or creative work.
“It can often write a mediocre story, but so far it has never written anything really good,” he said.
He said this during an exclusive interview with Sarawak Tribune at Sheraton Hotel here today.
Though there is uncertainty surrounding AI’s long-term impact on industries, he is optimistic about its potential to enhance productivity if used appropriately.
As such, he stressed the need for countries to adapt their education systems and economies to prepare for the changes brought by AI.
“Countries are going to have to think about restructuring their economies, recognising that there will be losses of jobs in some sectors.
“At Columbia, we’re having lots of discussions about how to change what we teach and how we teach in response to AI.
“Although we don’t have the answers, we’re beginning to try to begin the discussion on the matter,” he said.
