Former Google chief executive officer Eric Schmidt has predicted that the rise of artificial intelligence will be a net creator of jobs, contradicting the conventional wisdom that it will lead to higher unemployment.
Speaking to The National at Saudi Arabia’s Future Investment Initiative, Mr Schmidt said predictions that a billion jobs will be lost in the next decade because of the technology were “almost certainly false”.
“AI increases capacity, if you will. So why would you implement an AI system if you’re running a business? You would do it to make more money,” he said.
“More money creates more wealth in the system, at least in economies with progressive taxation. That money gets recycled into the entire system. So there’s no question there’s job losses, but for every job loss, there’s probably more than one job created. There’ll be more jobs created than jobs lost.”
During an On The Record with Hadley Gamble interview, Mr Schmidt also discussed US President Donald Trump’s attitude to the emerging technology.
“What I like about what the President did is he said, ‘We, America, are going to win in AI, and this is what it's going to take’,” Mr Schmidt said. “He’s taken a position of American dominance, and frankly, Europeans do not have the capital markets and the chips and so forth to do this, it's going to have to come from America.”
US ahead in AI race
He added that he was encouraged by Mr Trump’s stance and that he believed the US was winning the AI race – for now.
“At the moment, the United States, without question, [is winning],” he said. “The US has a deep financial market that allows you to raise literally a trillion dollars on a thesis, and an idea, which is incredible. You have this massive build-out going on, and you have a real potential of solving hard problems.”
Asked about how quickly China would catch up, he said it was not as close as he had previously thought.
“They have lots of energy, but they don't have the depth of the capital markets. And they don't have the chips,” he said. “They haven't figured out a way to make all that money the way the US does, and the chips, they haven't been able to make the chips that the United States and others will give them. That keeps them behind by a good chunk.”
But unlike the West, Mr Schmidt said, where AI innovation is the focus, China is looking to use the technology to make businesses more efficient.
“I think it’s fair to say that the two groups are following different strategies,” he said. “China is … focusing on exploiting AI in every aspect of its business much better than the United States. I think the US will win on the intelligence race, but China is likely to win on the deployment race, and that's a problem for America.”
Another issue for the US is immigration, he said.
“More than half of the companies founded in Silicon Valley are founded by immigrants,” he said. "[Google co-founder] Sergey Brin is an immigrant from Russia. Can you imagine if his father had not been allowed into the country? Thank God he was allowed.”
Asked if this was an issue that Mr Trump was getting wrong, Mr Schmidt said: “The policy has been an error for decades.
“I disagree with the current anti-immigration focus [of the Trump administration]. Our industry as a whole has for decades said one of the great gifts of America is its ability to attract worldwide talent.
“We should get them into our PhD programmes, get them maths and physics degrees, and give them green cards and keep them in the United States. It is insane to take a physicist who is Chinese, train them in America, send them back to China, and have them create a quantum company to compete with us, which is what's happening.”
The Vile
Starring: Bdoor Mohammad, Jasem Alkharraz, Iman Tarik, Sarah Taibah
Director: Majid Al Ansari
Rating: 4/5
The specs
Engine: 1.5-litre 4-cyl turbo
Power: 194hp at 5,600rpm
Torque: 275Nm from 2,000-4,000rpm
Transmission: 6-speed auto
Price: from Dh155,000
On sale: now
What vitamins do we know are beneficial for living in the UAE
Vitamin D: Highly relevant in the UAE due to limited sun exposure; supports bone health, immunity and mood.
Vitamin B12: Important for nerve health and energy production, especially for vegetarians, vegans and individuals with absorption issues.
Iron: Useful only when deficiency or anaemia is confirmed; helps reduce fatigue and support immunity.
Omega-3 (EPA/DHA): Supports heart health and reduces inflammation, especially for those who consume little fish.
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The specs
Engine: Direct injection 4-cylinder 1.4-litre
Power: 150hp
Torque: 250Nm
Price: From Dh139,000
On sale: Now
BMW M5 specs
Engine: 4.4-litre twin-turbo V-8 petrol enging with additional electric motor
Power: 727hp
Torque: 1,000Nm
Transmission: 8-speed auto
Fuel consumption: 10.6L/100km
On sale: Now
Price: From Dh650,000
The specs
Engine: 5.0-litre V8
Power: 480hp at 7,250rpm
Torque: 566Nm at 4,600rpm
Transmission: 10-speed auto
Fuel consumption: L/100km
Price: Dh306,495
On sale: now
Charlotte Gainsbourg
Rest
(Because Music)
LIVING IN...
This article is part of a guide on where to live in the UAE. Our reporters will profile some of the country’s most desirable districts, provide an estimate of rental prices and introduce you to some of the residents who call each area home.
The specs
Price, base / as tested Dh12 million
Engine 8.0-litre quad-turbo, W16
Gearbox seven-speed dual clutch auto
Power 1479 @ 6,700rpm
Torque 1600Nm @ 2,000rpm 0-100kph: 2.6 seconds 0-200kph: 6.1 seconds
Top speed 420 kph (governed)
Fuel economy, combined 35.2L / 100km (est)
How to apply for a drone permit
- Individuals must register on UAE Drone app or website using their UAE Pass
- Add all their personal details, including name, nationality, passport number, Emiratis ID, email and phone number
- Upload the training certificate from a centre accredited by the GCAA
- Submit their request
What are the regulations?
- Fly it within visual line of sight
- Never over populated areas
- Ensure maximum flying height of 400 feet (122 metres) above ground level is not crossed
- Users must avoid flying over restricted areas listed on the UAE Drone app
- Only fly the drone during the day, and never at night
- Should have a live feed of the drone flight
- Drones must weigh 5 kg or less
UAE v Gibraltar
What: International friendly
When: 7pm kick off
Where: Rugby Park, Dubai Sports City
Admission: Free
Online: The match will be broadcast live on Dubai Exiles’ Facebook page
UAE squad: Lucas Waddington (Dubai Exiles), Gio Fourie (Exiles), Craig Nutt (Abu Dhabi Harlequins), Phil Brady (Harlequins), Daniel Perry (Dubai Hurricanes), Esekaia Dranibota (Harlequins), Matt Mills (Exiles), Jaen Botes (Exiles), Kristian Stinson (Exiles), Murray Reason (Abu Dhabi Saracens), Dave Knight (Hurricanes), Ross Samson (Jebel Ali Dragons), DuRandt Gerber (Exiles), Saki Naisau (Dragons), Andrew Powell (Hurricanes), Emosi Vacanau (Harlequins), Niko Volavola (Dragons), Matt Richards (Dragons), Luke Stevenson (Harlequins), Josh Ives (Dubai Sports City Eagles), Sean Stevens (Saracens), Thinus Steyn (Exiles)
UPI facts
More than 2.2 million Indian tourists arrived in UAE in 2023
More than 3.5 million Indians reside in UAE
Indian tourists can make purchases in UAE using rupee accounts in India through QR-code-based UPI real-time payment systems
Indian residents in UAE can use their non-resident NRO and NRE accounts held in Indian banks linked to a UAE mobile number for UPI transactions
MATCH INFO
Jersey 147 (20 overs)
UAE 112 (19.2 overs)
Jersey win by 35 runs
SERIE A FIXTURES
Saturday
AC Milan v Sampdoria (2.30pm kick-off UAE)
Atalanta v Udinese (5pm)
Benevento v Parma (5pm)
Cagliari v Hellas Verona (5pm)
Genoa v Fiorentina (5pm)
Lazio v Spezia (5pm)
Napoli v Crotone (5pm)
Sassuolo v Roma (5pm)
Torino v Juventus (8pm)
Bologna v Inter Milan (10.45pm)
Veil (Object Lessons)
Rafia Zakaria
Bloomsbury Academic
The%20specs
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The specs
Engine: 6.2-litre V8
Power: 502hp at 7,600rpm
Torque: 637Nm at 5,150rpm
Transmission: 8-speed dual-clutch auto
Price: from Dh317,671
On sale: now
LA LIGA FIXTURES
Saturday (All UAE kick-off times)
Valencia v Atletico Madrid (midnight)
Mallorca v Alaves (4pm)
Barcelona v Getafe (7pm)
Villarreal v Levante (9.30pm)
Sunday
Granada v Real Volladolid (midnight)
Sevilla v Espanyol (3pm)
Leganes v Real Betis (5pm)
Eibar v Real Sociedad (7pm)
Athletic Bilbao v Osasuna (9.30pm)
Monday
Real Madrid v Celta Vigo (midnight)
Honeymoonish
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COMPANY PROFILE
Name: Akeed
Based: Muscat
Launch year: 2018
Number of employees: 40
Sector: Online food delivery
Funding: Raised $3.2m since inception
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COMPANY%20PROFILE
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