Nicolai Tangen, head of Norway's sovereign wealth fund, has cautioned that unequal access to AI technologies could exacerbate societal divisions. Speaking on the potential risks, Tangen highlighted the possibility of a future where only a select few benefit from AI advancements, leading to further marginalisation of those without access.
Tangen's concerns extend to the concentration of power within a small number of AI companies, predominantly based in the United States, which he sees as a worrying trend. He also pointed out that Europe's stringent regulations might be pushing AI innovation towards the US, potentially widening the gap. The fund is developing its own guidelines for how companies can adopt AI in a manner consistent with the fund's responsible investment framework.
Despite these concerns, Tangen acknowledges AI's potential to boost productivity and is actively integrating it into the fund's operations. He aims to increase productivity by 10% through AI integration. However, he stresses the importance of responsible AI development and the need for comprehensive regulation to mitigate risks and ensure fair access.
