For economic superiority, they find that advances in AI could result in a new industrial revolution.
Former U.S. Treasury Secretary Larry Summers has predicted that advances in AI and related technologies will lead to a dramatic decline in demand for labor such that the United States “may have a third of men between the ages of 25 and 54 not working by the end of this half century.”
Like the first industrial revolution, this will reshape the relationship between capital and labor in economies around the world. Growing levels of labor automation might lead developed countries to experience a scenario similar to the “resource curse.”
Also like the first industrial revolution, population size will become less important for national power. Small countries that develop a significant edge in AI technology will punch far above their weight.