Does AI Present the Potential to Mitigate Resource Scarcity?

07 December 2017
by Andrew Ware

Andrew Ware worked with Dr Simon Beard over the summer on a project looking at applying AI to resource scarcity.

"As any undergraduate textbook will tell you, “economics is the study of how society allocates scarce resources.” However, this age-old problem is increasingly being seen as less of an issue about markets, state plans, and economic institutions, and more of a problem of the availability of data, the development of algorithms, and people’s access to technology. While we have been aware of the potential for technology to bring about an age of abundance in technologically advanced societies since at least the time of Keynes, most people live distant from such technological utopias, in both geographical and economic terms. What impact is this shift having on such people, and how can we ensure that the development of technology helps solve ‘the problem of scarcity’ for them too?"

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