Nobel Laureate Michael Spence on how AI is redefining the global economy

Summary

Nobel laureate Michael Spence lectured at MBZUAI on AI's impact on global economies, focusing on productivity and growth. He highlighted information asymmetries around LLMs and the risk of AI-driven bias in job screening. Spence suggests finding signals that cannot be easily imitated and increase the cost of delivering misleading information. Why it matters: The lecture brings attention to AI's transformative potential and the challenges it poses for economic models and policy in the UAE and globally.