Artificial intelligence pioneer Geoffrey Hinton, widely regarded as the “godfather of AI,” has warned that the rapid growth of the technology will result in unemployment, but will boost profits for the wealthy.
In an interview with the Financial Times, Hinton said AI would primarily benefit wealthy individuals and corporations who deploy it to replace human labour.
“It’s going to create massive unemployment and a huge rise in profits. It will make a few people much richer and most people poorer. That’s not AI’s fault, that is the capitalist system,” he said.
The Nobel Prize-winning computer scientist, who left Google in 2023, has repeatedly raised concerns about the potential of AI to destabilise economies and societies.
He dismissed proposals such as universal basic income, arguing it would not address human dignity or the sense of purpose people derive from work. While he noted that healthcare could benefit from AI, making doctors more efficient and improving patient access, he cautioned that most routine jobs are vulnerable to automation.
Hinton has also warned of bigger risks, estimating a 10-20% chance that advanced AI could pose an existential threat to humanity.
