"In the case of AI, I think there are a couple of other deeper problems. We have not only a problem in the labor market ... but there's another side of what I would call information externalities, which Stiglitz describes simply as garbage in, garbage out (GIGO)."
"In essence, AI is only as smart as the input it receives, and when it continues to scrape less-than-accurate information, the output becomes just as distorted as the information it absorbed."
"AI is basically stealing information from legacy media, and that means the legacy media doesn't have the resources or incentives to produce information."
Joseph Stiglitz warns that artificial intelligence poses a fundamental threat to information quality and system reliability. As large language models scrape data from Reddit, forums, and online sources, they absorb inaccurate and biased information that becomes embedded in their outputs. This creates a "garbage in, garbage out" problem where AI appears data-driven while operating on corrupted foundations. The deeper issue involves information externalities: AI systems undermine the institutions producing high-quality knowledge by scraping their content without compensation, leaving those institutions unable to sustain quality journalism and research. This broken feedback loop means markets, predictions, and public discourse increasingly rely on distorted AI-generated information rather than reality.
#ai-data-quality #information-externalities #media-sustainability #feedback-loops #artificial-intelligence-risks
Read at Fortune
Unable to calculate read time
Collection
[
|
...
]