Economist Raghuram Rajan on the Real Question About AI

CoinDesk's David LaValle and Kate Irwin sit down with Raghuram Rajan, the Katherine Miller Professor of Finance at Chicago Booth and former Governor of the Reserve Bank of India, at the Ripple Swell conference. Rajan says the quality of today's AI leaves you "flabbergasted" but argues the market's real question is when big businesses will adopt it, whom they will pay, and when the investment earns a return. He calls for regulators to work alongside the private sector before rushing to legislation and warns that poorly managed automation could push unemployment toward 20%. - Chapters/Timecodes: 00:00 Raghuram Rajan at Ripple Swell 00:20 What AI Can Already Do 00:54 Adoption, Competition and ROI 02:02 Regulating AI With the Private Sector 03:51 AI and the Labor Force 05:16 UBI as a Last Resort 06:33 Tokenization and Modernizing Markets 07:13 Reducing Risk and Collateral 08:07 Fragmentation and Firewalls - #digitalfinance #finance #bitcoin Subscribe to CoinDesk on YouTube: https://www.youtube.com/user/CoinDesk?sub_confirmation=1 CoinDesk is the leading digital media, events and information services company for the crypto asset and blockchain technology community. Twitter: https://www.twitter.com/coindesk LinkedIn: https://www.linkedin.com/company/coindesk Instagram: https://www.instagram.com/coindesk Facebook: https://www.facebook.com/CoinDesk Newsletters: https://www.coindesk.com/newsletters CoinDesk Podcast Network: https://open.spotify.com/show/2jyIhkvAQhed8AWDZiPpSP Public Keys: https://open.spotify.com/show/1rqYzRV10nfKfoTpFXZhTE Markets Daily Crypto Roundup: https://open.spotify.com/show/7sDXM8BlxsUqzL2IqmLqwE The Policy Protocol: https://open.spotify.com/show/3Fh8ffulAWcCqMu0uVuwoj