Could an AI backlash undermine western democracy?
When I asked ChatGPT this question I was provided with a host of concerns: the potential for AI to spread misinformation, cause election interference, or amplify bias through polarisation and manipulation. The fact is, the truth, when it comes to AI, has versions; the story you get depends largely on which engine you decide to engage. But the issues surrounding AI and its potential impact on democracy go way beyond simply defining what’s true.
To begin with, AI’s future energy needs are huge and it remains unclear who will be paying for them. The left-leaning educational model is no longer fit for purpose, politically or economically, churning out degrees for jobs that are well on their way to extinction. Data sovereignty is evaporating, and financial markets are struggling to deal with the cloud of mist around AI.
At a recent finance and investor day summit I hosted in London, tariffs, taxes, geopolitics, the forthcoming Labour budget and even the bond market all seemed less captivating for the C-suite audience than our hour-long conversation on the impact of AI.
The discussion ranged from the impact of high electricity prices at home to the implications of AI sovereignty lost. Inevitably, the talk turned to what artificial intelligence will do to the job market and how governments are preparing to absorb the forthcoming wave of the unemployed. None of us left the room feeling optimistic that the West fully grasps the enormity of these problems.
To begin with, the rise in electricity prices in the US has already put pressure on incumbent politicians. States with high electricity costs like New Jersey and Virginia have seen Democratic wins in recent elections. While most Democrats are putting the blame squarely on Big Tech and the buildout of AI infrastructure, Republicans have been slow to push back, betting that a patriotic desire to win the AI race with China will somehow alleviate Americans’ very real concerns as they watch their bills increase.
This narrative is dangerous for both parties, and sustainable, long-term policies will require a bipartisan approach. Yes, from a western perspective the race with China must be won. But those who run the engines America is empowering to win that race must also pay for the privilege to serve. I’m talking about Big Tech and the energy companies they are investing with to fuel the AI boom. As tech and energy companies see their power and profits increase, governments ought to demand that they shoulder more of the bills.
Across the pond, a major issue facing western governments is one of data sovereignty. US President Donald Trump’s tariffs, his attitude towards Russia and his demands on Nato have increased Europeans’ distrust of their traditional ally. With the UK and Europe largely dependent on the US for the tech, energy and materials needed to compete in the AI race, the continent runs the risk of being caught out, without leverage and without choice.
Social safety nets may have widened in recent years, but they will not stretch to supporting the millions of people AI could displace
Remember, Russia’s gas war with Europe began well before Moscow’s invasion of Ukraine. And while US energy exports to Europe have been swift to alleviate much of that pain, the continent is nowhere near able to support the buildout of AI data centres and infrastructure in the way America or China can – not to mention produce the number of chips necessary to succeed.
As far as the future of employment, when I quoted Google’s ex-chief executive Eric Schmidt who told me that for every job lost to AI, two would be created, a scant show of hands around the room and the scepticism of my fellow panelists suggests that scenario is wildly optimistic.
McKinsey, a consulting firm, recently predicted millions of jobs will be lost in the 2030s, mostly in white collar fields. Western governments have so far done nothing to suggest that they are prepared to take on the welfare of the college-educated masses who could become jobless.
And too few western universities are churning out new curricula, nor are enough parents pushing their children to forgo elite institutions in favour of vocational training. Social safety nets may have widened in recent years, but they will not stretch to supporting the millions of people AI could displace.
Meanwhile, we are in the midst of an AI bubble that experts warn is increasingly unsustainable. Overvaluation, hype-driven investments and a lack of tangible returns should be haunting venture capitalist investors as much as those in government responsible for regulating markets. But between the politicians and the tech bros, no one seems to be factoring in the political instability AI could unleash.
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Red flags
- Promises of high, fixed or 'guaranteed' returns.
- Unregulated structured products or complex investments often used to bypass traditional safeguards.
- Lack of clear information, vague language, no access to audited financials.
- Overseas companies targeting investors in other jurisdictions - this can make legal recovery difficult.
- Hard-selling tactics - creating urgency, offering 'exclusive' deals.
Courtesy: Carol Glynn, founder of Conscious Finance Coaching
Terror attacks in Paris, November 13, 2015
- At 9.16pm, three suicide attackers killed one person outside the Atade de France during a foootball match between France and Germany
- At 9.25pm, three attackers opened fire on restaurants and cafes over 20 minutes, killing 39 people
- Shortly after 9.40pm, three other attackers launched a three-hour raid on the Bataclan, in which 1,500 people had gathered to watch a rock concert. In total, 90 people were killed
- Salah Abdeslam, the only survivor of the terrorists, did not directly participate in the attacks, thought to be due to a technical glitch in his suicide vest
- He fled to Belgium and was involved in attacks on Brussels in March 2016. He is serving a life sentence in France
COMPANY%20PROFILE
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Dhadak 2
Director: Shazia Iqbal
Starring: Siddhant Chaturvedi, Triptii Dimri
Rating: 1/5
EXPATS
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COMPANY PROFILE
Name: Akeed
Based: Muscat
Launch year: 2018
Number of employees: 40
Sector: Online food delivery
Funding: Raised $3.2m since inception
COMPANY PROFILE
Initial investment: Undisclosed
Investment stage: Series A
Investors: Core42
Current number of staff: 47
The%20specs
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The specs
Engine: 3.0-litre 6-cyl turbo
Power: 435hp at 5,900rpm
Torque: 520Nm at 1,800-5,500rpm
Transmission: 9-speed auto
Price: from Dh498,542
On sale: now
Company%20profile
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The more serious side of specialty coffee
While the taste of beans and freshness of roast is paramount to the specialty coffee scene, so is sustainability and workers’ rights.
The bulk of genuine specialty coffee companies aim to improve on these elements in every stage of production via direct relationships with farmers. For instance, Mokha 1450 on Al Wasl Road strives to work predominantly with women-owned and -operated coffee organisations, including female farmers in the Sabree mountains of Yemen.
Because, as the boutique’s owner, Garfield Kerr, points out: “women represent over 90 per cent of the coffee value chain, but are woefully underrepresented in less than 10 per cent of ownership and management throughout the global coffee industry.”
One of the UAE’s largest suppliers of green (meaning not-yet-roasted) beans, Raw Coffee, is a founding member of the Partnership of Gender Equity, which aims to empower female coffee farmers and harvesters.
Also, globally, many companies have found the perfect way to recycle old coffee grounds: they create the perfect fertile soil in which to grow mushrooms.
Kat Wightman's tips on how to create zones in large spaces
- Area carpets or rugs are the easiest way to segregate spaces while also unifying them.
- Lighting can help define areas. Try pendant lighting over dining tables, and side and floor lamps in living areas.
- Keep the colour palette the same in a room, but combine different tones and textures in different zone. A common accent colour dotted throughout the space brings it together.
- Don’t be afraid to use furniture to break up the space. For example, if you have a sofa placed in the middle of the room, a console unit behind it will give good punctuation.
- Use a considered collection of prints and artworks that work together to form a cohesive journey.
GIANT REVIEW
Starring: Amir El-Masry, Pierce Brosnan
Director: Athale
Rating: 4/5
The specs: 2019 Haval H6
Price, base: Dh69,900
Engine: 2.0-litre turbocharged four-cylinder
Transmission: Seven-speed automatic
Power: 197hp @ 5,500rpm
Torque: 315Nm @ 2,000rpm
Fuel economy, combined: 7.0L / 100km
Infiniti QX80 specs
Engine: twin-turbocharged 3.5-liter V6
Power: 450hp
Torque: 700Nm
Price: From Dh450,000, Autograph model from Dh510,000
Available: Now
Specs
Engine: Duel electric motors
Power: 659hp
Torque: 1075Nm
On sale: Available for pre-order now
Price: On request
'Of Love & War'
Lynsey Addario, Penguin Press
UAE currency: the story behind the money in your pockets
TO ALL THE BOYS: ALWAYS AND FOREVER
Directed by: Michael Fimognari
Starring: Lana Condor and Noah Centineo
Two stars
Profile of MoneyFellows
Founder: Ahmed Wadi
Launched: 2016
Employees: 76
Financing stage: Series A ($4 million)
Investors: Partech, Sawari Ventures, 500 Startups, Dubai Angel Investors, Phoenician Fund
Specs
Engine: 51.5kW electric motor
Range: 400km
Power: 134bhp
Torque: 175Nm
Price: From Dh98,800
Available: Now
The biog
Favourite books: 'Ruth Bader Ginsburg: A Life' by Jane D. Mathews and ‘The Moment of Lift’ by Melinda Gates
Favourite travel destination: Greece, a blend of ancient history and captivating nature. It always has given me a sense of joy, endless possibilities, positive energy and wonderful people that make you feel at home.
Favourite pastime: travelling and experiencing different cultures across the globe.
Favourite quote: “In the future, there will be no female leaders. There will just be leaders” - Sheryl Sandberg, COO of Facebook.
Favourite Movie: Mona Lisa Smile
Favourite Author: Kahlil Gibran
Favourite Artist: Meryl Streep
