The Economic and Ethical Risks of AI in the US

Despite the hype around AI, the US economy is facing serious economic risks, including historically high interest rates, recession risks, and a potential commercial real estate crisis. The Federal Reserve has raised interest rates by 500 basis points in the past 15 months, and there is a 70% chance of a recession by May 2024. Additionally, tens of billions of dollars worth of commercial real estate assets are slipping into the distressed category as high interest rates squeeze borrowers. China's economic slowdown is also a concern for the US economy.