„It’s capitalism” – AI godfather predicts mass layoffs and huge corporate profits

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It appears that Geoffrey Hinton, a key figure in artificial intelligence development due to his work on neural networks – the foundation for today’s AI success – has grown increasingly critical. He fears that as AI becomes more integrated into everyday life, it may exacerbate social divisions and increase stratification (as reported by Fortune).

Only the richest will benefit from AI

In a conversation with the Financial Times, Geoffrey Hinton expressed that not everyone may reap the benefits from the advancement of artificial intelligence. While it offers significant advantages, particularly in medical applications and speeding up treatments, its impact in an economy shaped by capitalism can be less positive as AI increasingly takes over human jobs.

The consequence of advanced AI adoption will primarily benefit the wealthy by replacing human workers, leading to widespread unemployment and increased profits for them. This unfortunate outcome isn’t a flaw in AI technology but rather a reflection of our capitalist economic system.

Geoffrey Hinton shares a different perspective than Sam Altman, suggesting that basic income isn’t necessarily the answer. In his view, this approach overlooks human aspects like behavior, self-worth, and the fulfillment derived from work. Although he doesn’t advocate against AI completely, he seems to emphasize the importance of understanding and preserving these essential human elements.

He employs a chatbot in his daily studies and is optimistically confident that we’re on the brink of something truly remarkable. However, the outcome of artificial intelligence could be either extraordinarily beneficial or detrimental, as it can potentially be misused by those with malicious intentions. Unfortunately, most of humanity might not reap the rewards from this technological advancement.

Hinton’s forecasts concerning the job market don’t seem optimistic, yet it’s crucial to remember that no one can accurately foresee all future events. For instance, the art world might appear unaffected by new technology at first glance, but unexpectedly, this technological advancement has opened up a fresh sector within the industry. This is due to the increasing need for individuals who can correct the errors and imperfections (often referred to as “AI slop”) produced by AI systems in this field.

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2025-09-09 13:34