Microsoft’s Chief Economist, Michael Schwarz, recently shared his thoughts on artificial intelligence (AI) during a World Economic Forum panel in Geneva. According to Bloomberg, Schwarz warned of the potential dangers posed by AI, stating that it is capable of causing real harm when it falls into the wrong hands. He then proposed that in cases of serious damage, regulation is needed for the purposes of preventing potential harm without prohibiting the advantages that AI presents.
Microsoft has increasingly been pushing for the use of AI recently, having invested in OpenAI and integrating it into products such as Office and Bing. CEO Satya Nadella expressed optimism in the promise of AI, claiming that it will create more jobs and make existing jobs more efficient.
There is still concern over advanced AI though, with ChatGPT tools often having been documented to make errors. Sam Altman, CEO of OpenAI, noted in February that although the chatbot can be considered “cool,” it remains a “horrible product.”
Bill Gates, co-founder of Microsoft, wrote in March that “the age of AI has begun,” claiming that it has the potential to completely revolutionize industries. Microsoft has yet to comment regarding Schwarz’s remarks.
Michael Schwarz is Microsoft’s Chief Economist and a veteran of the company, often appearing before the US House Budget Committee, to testify about economic concerns related to the Microsoft Corporation. Schwarz studied at the University of Chicago as an undergraduate and post-graduate receiving economics degrees and rose to prominence in the technology and economics industries with his research and work with AI.
Microsoft is a technology giant and the largest software maker in the world. Founded by Bill Gates, Paul Allen, and others in the mid-1970s, Microsoft grew to be one of the most successful companies in the world, dominating the PC market and transitioning to the cloud computing market for the first time in 2009. Recently, the company has been pushing for the use of AI and data-driven strategies, as well as cloud computing, to power its various business lines.
