30 years ago the internet revolution began. The president of Microsoft, Satya Nadella, born in India, commented to The Economist that we are now experiencing the AI revolution. The technological ones are prepared with computers that have keyboards that include instructions to obtain algorithms. For now, the most beneficiaries are the “magnificent seven”, and among them Microsoft. The seven, according to The Economist, have a market value of $4.6 trillion and have achieved this since ChatGPT was launched in November 2022.
Not everyone will earn as much because, according to the IMF, between 20% and 25% of workers will be replaced by AI devices. In rich countries, layoffs can reach a third of the workforce. Those who will win will be the workers in developing countries, since for years they have had an illiterate population and many have suffered from pandemics. India is the world's leading exporter of medicines and vaccines, and is making use of AI. Combine models for dense languages and develop software that recognizes complicated government forms. In this way, the poorest and most illiterate farmers (millions in India) are able to ask a bot how they can get a loan from the Government to prepare their next crops.
In the poorest countries in Africa (Kenya), school students already know how to ask a bot for the content of their tasks and through AI they improve the work assigned to them by their teachers. Among us, in the Vall d'Hebron Oncology service (breast cancer detection), the AI algorithms that doctors have developed can identify more doubtful points and multiply observations and improve diagnoses.
According to The Economist, the Gulf countries are trying by all means to free themselves from dependence on oil. They have promoted sports, signed the best international soccer players and are now investing in new AI-based technologies. Others take stakes in large telephone companies, such as the purchase of 9% of the shares of Telefónica de España, despite it being a very vulnerable sector, since it is a company linked to the Ministry of Defense and the Government's strategies. These countries have the means and resources to invest in a complicated model for the different variants of the Arabic language and become a global financial center.
To conclude, those who have applied AI on Wall Street have earned less than those who follow traditional procedures and became millionaires buying Nvidia shares. Layoffs of workers will most likely occur, although AI will help them be more productive and find new jobs. According to the IMF, the labor markets of the poorest countries will suffer less in their jobs than those of rich countries.
