I, Robot: the three laws of robotics and the ethics of the peopleless economy

Abstract

The world economy is currently witnessing an unprecedented surge in the ability of machines and algorithms to replace human labor, a surge with the potential to accomplish gains of efficiency and productivity that were unimaginable just a few years ago. Nonetheless, the wonders of the artificial intelligence economy are ultimately overshadowed by a series of concerns that decision-makers should account for: fast automation is synonymous with job losses, increasing income inequality, demand imbalances, and various sorts of insecurities and anxieties. The countervailing forces associated with the progress of automation raise doubts about whether the transition to the robot economy should advance full speed ahead. Rather than developing any artificial intelligence, it is necessary to develop the right kind of artificial intelligence. In particular, the progress of automation should be framed by fairness and ethical principles. This study discusses the ethical boundaries of the emergent robot economy. The discussion is supported on a theoretical model that is built and simulated with the goal of illustrating the transition to the robot economy. The virtues and flaws of this transition are considered.