Economic aspect problems of technological singularity

Authors

  • А.А. Minchenko Gomel Branch of the Belarusian Federation of Trade Unions “International University “MITSO”, Republic of Belarus
  • О.А. Zolotareva Polessky State University, Pinsk, Republic of Belarus

Keywords:

technological singularity, artificial intelligence, regulation of neural networks, artificial self-awareness as an economic product

Abstract

The goal is to study how the technological singularity can affect society and what challenges and opportunities may appear in this new reality. The authors explore what scenarios of economic development can be associated with technological singularity and what strategies can states prepare for future challenges. Overall, the article aims to give the reader a deeper understanding of how the technological singularity can change economic conditions and what governments must do to successfully adapt to this new world.

Materials and methods. The theoretical basis of the study was the work of researchers devoted to the problem of technological singularity. Methods of observation, analysis and synthesis, classification, analogy, abstraction, generalization are applied.

Results. The possible consequences of the development of AI are shown and solutions to the problems associated with this development are proposed. The authors believe that it is necessary to regulate the development of neural networks in order to avoid losing control over them in the future. However, such regulation must be global in order to prevent the competitive advantage of one country over others. The authors also express their point of view regarding economic development in the light of the increasing use of AI, which may lead to a reduction in the need for material resources and fixed assets and to a contraction of the global economy. As a result, the authors call for the development of universal ethics in neural networks in order to ensure the harmonious interaction of artificial and natural forms of mind and self-consciousness.

Conclusion. Mankind faces the dilemma of regulating the development of neural networks. If left unregulated, AI could spiral out of control and lead to global AI systems that control humanity. On the other hand, too strong regulation can lead to the loss of competitive advantages of the country that implements such regulation. Future global AI can only be regulated by humanity as a whole, so there may be a need for world economic democratic power. Humanity must cultivate a universal ethics in neural networks in order to ensure synergistic interaction between AI and the human mind.

Author Biographies

А.А. Minchenko, Gomel Branch of the Belarusian Federation of Trade Unions “International University “MITSO”, Republic of Belarus

Senior Lecturer, Department of Economics and Information Technology

О.А. Zolotareva, Polessky State University, Pinsk, Republic of Belarus

Doctor of Econ. Sc., Associate Professor, Professor of the Department of Banking and Financial Markets

References

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References

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Published

2023-06-23

How to Cite

Минченко, А., & Золотарева, О. (2023). Economic aspect problems of technological singularity. Economy and Banks, (1), 69-77. Retrieved from https://ojs.polessu.by/EB/article/view/1754

Issue

Section

Issues of regional economy