Former UBS Group AG Chairman Axel Weber has warned the coming disruption from artificial intelligence could usher in the rise of a new global elite that profits disproportionately from the adoption of the cutting-edge technology while leaving the rest worse off.
“We will see people who reap the benefits from this new technology in a way that we haven’t seen before,” Axel Weber, who’s also a former former chief of the German central bank, said on Friday during a panel discussion at the Bund Summit in Shanghai. “Like the sort of tech aristocrats and billionaires, we will see AI aristocrats.”