“The modern world has been built by and within monsters,” argue the academics. How will AI change the balance? “We need to start finding out”
’s Chatand the newest version of Microsoft’s Bing search engine. It’s the “shoggoth”: an amorphous monster bubbling with tentacles and eyes, described in “At the Mountains of Madness”, H.P. Lovecraft’s horror novel of 1931. When a pre-release version of Bing told Kevin Roose, atech columnist, that it purportedly wanted to be “free” and “alive”, one of his industry friends congratulated him on “glimpsing the shoggoth”.
As the economist Friedrich Hayek argued, any complex economy has to somehow make use of a terrifyingly large body of disorganised and informal “tacit knowledge” about supply and exchange relationships. No individual brain or government can possibly comprehend them, which is why Hayek thought that the planned economy was unworkable. But the price mechanism lets markets summarise this knowledge and make it actionable.
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