Money, Power, and AI

Demonstrates how AI and automated decision-making tools bring new sources of profits and power to financial firms and governments.

This collection sheds light on how AI and automated decision-making tools bring new sources of profits and power to financial firms and governments. Chapters offer distinct perspectives from authors of diverse backgrounds and across legal systems, arguing that new rules, frameworks, and approaches are needed to prevent harms of automation.In this ambitious collection, Zofia Bednarz and Monika Zalnieriute bring together leading experts to shed light on how artificial intelligence (AI) and automated decision-making (ADM) create new sources of profits and power for financial firms and governments. Chapter authors—which include public and private lawyers, social scientists, and public officials working on various aspects of AI and automation across jurisdictions—identify mechanisms, motivations, and actors behind technology used by Automated Banks and Automated States, and argue for new rules, frameworks, and approaches to prevent harms that result from the increasingly common deployment of AI and ADM tools. Responding to the opacity of financial firms and governments enabled by AI, Money, Power and AI advances the debate on scrutiny of power and accountability of actors who use this technology. This title is available as Open Access on Cambridge Core.