Internationally renowned economist Professor Daron Acemoglu to discuss AI's impact at University of Glasgow

Internationally acclaimed political economist Professor Daron Acemoglu is slated to deliver a lecture on Artificial Intelligence (AI) and its implications for the economy and society at the University of Glasgow.

The Massachusetts Institute of Technology (MIT) Institute Professor will present his talk, drawing from his latest publication, 'Power and Progress: Our Thousand-Year Struggle over Technology and Prosperity' as part of the University’s Adam Smith Distinguished Speaker Series on 15th May.

With AI gaining more attention and investment, especially with the rise of ChatGPT since 2022, there's growing promise and focus on advancements in "generative AI." Its impact on different parts of the economy is becoming more apparent.

Against this backdrop, Professor Acemoglu aims to offer insights into AI, tackling critical questions such as: How can we optimize the utility of AI, and what trajectories should we pursue? Will it yield the touted benefits posited by technology leaders, or will it exacerbate existing inequalities and concentrate wealth further? How will emerging economies and the global community be affected?

He will also discuss key issues such as the international implications of AI, its influence on global labor division and politics, the importance of preventing information monopolisation for economic efficiency and democratic survival, the need to preserve human diversity and encourage learning and experimentation, and promoting effective communication between AI models and human decision-makers.

During his visit to Glasgow, the University will confer an honorary degree on Professor Acemoglu.

Expressing his anticipation for the lecture, Professor Acemoglu remarked:

"I am very excited to give the Adam Smith lecture at the University of Glasgow. Our field owes its existence to Adam Smith and the work he started at Glasgow, when Smith was grappling with central challenges facing 18th century economy and society.

It is a humbling experience to give this lecture, and I feel the best I can do is to share my own perspective on some of the major challenges facing our own society, related to how we adapt to new technologies and how we can try to organize our institutions and markets to take best advantage of them."

Professor Graeme Roy, Assistant Vice-Principal and Dean of External Engagement at the University of Glasgow, expressed delight at hosting Professor Acemoglu, stating:

“We are delighted to welcome Professor Daron Acemoglu to Glasgow to deliver the Adam Smith Distinguished Speaker Series lecture for 2024. Adam Smith spoke of the benefits to economic prosperity from innovation, but cautioned too that the concentration of market power could harm the wellbeing of society.

Ensuring that the benefits from AI are shared fairly across society is one of the great policy challenges of this decade. It’s fantastic that we’ll have the opportunity to hear from one of the world’s leading economists on how to maximise the benefits for everyone from the AI revolution.”