Viskhan S. Magomadov – senior lecturer of the department of Business-informatics Chechen State University (Russia, Grozny), RSCI SPIN-code: 2639-4057, E-mail: vmagomadov@gmail.com

Abstract. The current progress in the field of information technology, in particular, the progress in the field of Artificial Intelligence (AI), has generated the fear of loss of employment and increasing economic inequality among people. This article examines the reasons for these fears, focusing on the specific nature of AI and drawing parallels between the breakthrough in the automation of the past and modern achievements that have become a reality due to the development of AI. The article claims that this can lead to many opportunities to increase performance. This is also the case in developing countries, given the notable cost savings demonstrated by some applications and the prospects for productivity growth, especially among low-skill workers.  At the same time, there is a need to address the risks associated with the further spread of inequality in order to ensure that the benefits of technological progress related to the development of AI are ubiquitous. The article argues for a moderately optimistic position on the opportunities and risks of artificial intelligence, provided that politicians and social partners take into account the specific characteristics of these technologies.

Keywords: artificial intelligence, AI, inequality, economic growth, digital technology, automation, robotics.

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