Mohamed El-Erian, Chief Economic Advisor at Allianz, on Friday warned that a failure to work“with” artificial intelligence technology could result in a range of economic, political, and social issues.

“Achieving this is a critical joint responsibility. Critical, because failure risks not only undermining economic wellbeing and fueling political and social opposition; it would also unleash those characteristics of AI that exacerbate inequality.”

- Mohamed El-Erian, Chief Economic Advisor, Allianz

The economist emphasized that while advances in AI have been“breathtaking,” merely working on this technology is not enough.

Working On AI Versus Working With AI

El-Erian stated that individuals should work on upgrading their ability to interact with AI technology. Companies should not focus only on displacing labor with AI, but also on enhancing the quality of labor. He also said governments should agree on basic standards and regulations when it comes to AI.

El-Erian also called on leading AI firms to put in more effort in combating the weaponization of AI by bad actors.

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