Democrats’ Next Big AI Challenge
The anti-tech wave is crashing into reality.
This edition of The Atlantic Daily explores the Democrats' new challenge following their recent victory in the House and Senate elections - regulating artificial intelligence (AI). The tech sector, particularly Alphabet, Nvidia, and semiconductor companies, experienced a significant drop in value after the election results. Many victorious Democrats campaigned on a promise to move away from the unchecked expansionism of the tech industry during the Donald Trump era, with some focusing on stopping the construction of new data centers.
The widespread fears about AI's impact on jobs further fueled the Democrats' comeback. However, AI is now a crucial part of the U.S. GDP, adding nearly $32 trillion to the S&P 500 Index since OpenAI released ChatGPT, with more than half of the growth coming from just 10 companies. While AI has its positive effects, it also contributes to inflation and higher long-term-bond yields.
Democrats face the challenge of regulating AI without damaging the economy they've promised to protect.
Written by urgent.news from The Atlantic's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
