Global AI Race Raises Economic and Workforce Concerns

The global competition for AI leadership is intensifying, with U.S. officials such as EPA administrator Lee Zeldin aiming to establish the nation as the 'AI capital of the world,' while China is advancing rapidly and could overtake by 2025. India is boosting investment in homegrown technology to reduce reliance on U.S. tech firms and address domestic needs. As AI's influence grows, concerns about job displacement and algorithmic bias are challenging assumptions that technology only augments jobs. Economists warn that the shift to an AI-driven economy may be disruptive, with new jobs potentially failing to offset those lost. Startups globally remain optimistic, attracting increased investment and acquisitions in AI, despite ongoing worries about monopolistic behavior by major tech companies. The broad implications of AI's rise highlight the urgent need for inclusive and balanced technology governance.