Artificial Intelligence Evolution, Ethics and Public Policy

What will the future be? A dystopian landscape controlled by machines or a brave new world full of possibilities? Perhaps the answer lies with Artificial Intelligence (AI)—a phenomenon much beyond technology that has, continues to, and will shape lives in ways we do not understand yet. This book traces the evolution of AI in contemporary history. It analyses how AI is primarily being driven by "capital" as the only "factor of production" and its consequences for the global political economy. It further explores the dystopian prospect of mass unemployment by AI and takes up the ethical aspects of AI and its possible use in undermining natural and fundamental rights. A tract for the times, this volume will be a major intervention in an area that is heavily debated but rarely understood. It will be essential reading for researchers and students of digital humanities, politics, economics, science and technology studies, physics, and computer science. It will also be key reading for policy makers, cyber experts and bureaucrats.

Preface. Acknowledgements. Introduction 1. AI – The History and Evolution 2. Why AI is Unlike Any Other Technology 3. Emerging Danger of AI Induced Mass Unemployment 4. The Role of Cheap Capital 5. Ethics of AI and the Need for Regulation 6. Policy Response has to Evolve in Parallel 7. The Asilomar Principles for Artificial Intelligence 8. Discussion on AI Needs to become Mainstream. Epilogue. Index

Saswat Sarangi is a theoretical physicist by training with a PhD from Cornell University, Ithaca, NY, USA. After his PhD, he was a research scientist at Columbia University, New York City, USA. Saswat started his finance career in New York City working as a Quant at Bloomberg and later at Citigroup. He currently works in Cambridge, Massachusetts, USA. Pankaj Sharma is an engineer from IIT Kharagpur, India, with an MBA from the Faculty of Management Studies, University of Delhi, India. He has more than 15 years of diverse work experience in various leadership roles with global investment banks, Indian equity brokerages, state-owned enterprises and start-ups. Pankaj turned full-time researcher in late 2016 to do in-depth work on contemporary issues. Earlier, he was a ranked Equity Analyst with UBS, Citi and JP Morgan. Pankaj has also been a regular contributor to print and electronic media. Pankaj published his first two books in 2017: Demonetization: Modi’s Political Masterstroke and 2019: Will Modi Win?