As global capitalism bets the house on an AI future, cash-strapped governments have no easy way to square the circle if the fallout gets costly. And if enough people get angry about what the AI transformation could mean for them, it might not happen at all. Pope Leo XIV and China’s Workers’ Daily each broadcasting to a potential audience of 1.4 billion people are among the latest to sound the alarm.The AI buildout is a key pillar of growth in much of the world right now, helping offset surging energy costs from the US war on Iran. Global data-center spending may reach $7 trillion by 2030, according to McKinsey. It’s boosting construction and other industries.It’ll take time for AI to boost productivity, the key measure for how fast economies can grow without triggering inflation. Meanwhile, its fierce demand for water, energy and hardware such as memory chips is already sending prices up, at a time when the cost of living is top of mind for voters. Do you think that AI will only help companies reduce on expenditure ?
