Will AI erase all meritocracy?
AI means “intelligence” is now directly correlated with how much money you can spend on compute. What does this mean for meritocracy?
Before generative AI, the concept of meritocracy still held some ground. People who used their intellect and worked hard could earn money or gain status, whether in their professional lives, as entrepreneurs, or as scientists. However, with the advent of AI, this system is threatened. OpenAI recently shared 700 math papers, claiming to have resolved some significant problems.
This sparked alarm among mathematicians, with figures like Terence Tao calling for a boycott of AI. The argument now circulating is that AI eradicates meritocracy. Intelligence in AI is directly linked to how much money is spent on computing power, making it accessible only to the wealthiest individuals. This creates a permanent underclass for those who didn't accumulate wealth during the AI surge, preventing even the most talented and hardworking from progressing.
This scenario represents a more fundamental threat than monopolies, as it devalues individual human intelligence and traps people in a cycle of wealth hoarding. While hoarding capital has been a feature of American capitalism, hoarding "intelligence" through AI deployment is far more insidious. AI's potential to skew the balance between capital and labor could make the system unworkable, according to Stanford economist Chad Jones.
His research suggests that capital's share of income will approach 100 percent across all AI development scenarios. This means that intelligence, talent, and hard work could no longer guarantee a better life for most people. As long as most capital is controlled by a tiny group, human agency becomes obsolete, leading to a form of slavery.
However, humans are unlikely to stop building AI. The solution lies in three paths: supporting open-source technology, implementing policies that prioritize labor over capital, and regulating AI to ensure value creation benefits humans. Open-source technology can provide a more level playing field, while policy changes can help rebalance the system and ensure that people retain control over their own lives.
Written by urgent.news from City AM's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
