The world of laissez-faire no longer exists given the impact of the technology
The increasing economic and societal impact of AI technologies is prompting governments to re-evaluate traditional regulatory and fiscal approaches.
This reflects a growing global trend towards governmental intervention to manage rapid technological advancement and capture economic value from it.
The previous hands-off approach to AI development is being replaced by discussions and proposals for active governmental taxation and regulation.
- · Governments
- · Public services
- · Traditional industries
- · AI companies accustomed to light regulation
- · AI investors seeking maximal returns
- · Startups with less lobbying power
Governments will explore various taxation models for AI, such as carbon taxes for compute or specific service taxes.
Increased costs for AI development and deployment could lead to consolidation in the industry or a shift towards state-sponsored AI initiatives.
The revenues generated could fund new social programs, infrastructure projects, or even directly subsidize green energy for AI, creating a feedback loop.
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Read at Financial Times — Technology