Better Markets announced a significant initiative to launch a 'people-centered AI agenda,' aiming to ensure that the rapid integration of artificial intelligence across the economy and financial system genuinely benefits Main Street workers, families, small businesses, and communities, rather than consolidating wealth at the very top. This agenda is designed to proactively guide AI's development towards broad societal good.
Introducing the People-Centered AI Agenda
Better Markets officially unveiled its 'people-centered AI agenda,' a comprehensive plan to navigate the transformative impact of artificial intelligence on American society. This initiative is detailed in a new issue brief titled “AI, the Economy, and You: A People-Centered AI Agenda” and is spearheaded by Evan LeFlore, Better Markets’ newly appointed Director of AI, Innovation, and Economic Opportunity. The core objective is to ensure that as AI reshapes various sectors, especially the financial system, its benefits are distributed equitably across all segments of American society, moving beyond a profit-first approach that often sidelines the public interest.
The Guiding Philosophy: Progress for All
Dennis Kelleher, Cofounder, President, and CEO of Better Markets, articulated the foundational conviction behind this agenda: 'change is certain, but progress is not.' He highlighted a critical concern that the current trajectory of AI development is primarily driven by private corporations in a race for market dominance and short-term profits. This competitive environment, he argues, frequently treats public interest as a secondary consideration or even an obstacle to innovation. The agenda firmly advocates for keeping 'Main Street Americans at the center of the decisions around AI’s development and implementation,' aiming to steer the technology towards a future where it uplifts the lives and livelihoods of the many, not just the privileged few.
Balancing AI's Promise with Significant Risks
Evan LeFlore emphasized that the narrative around AI is fundamentally about its impact on the quality of life for Americans. He pointed out the immense promise AI holds for Main Street, including its potential to expand access to affordable credit for underserved populations, mitigate human biases inherent in traditional lending decisions, reduce operational costs, boost productivity, foster new economic opportunities, and equip everyday citizens with powerful new tools to ensure accountability from both government and financial institutions. However, LeFlore also delivered a stark warning about the 'serious disruption and downsides' that AI could bring. These include potential threats to job security, challenges to fairness in credit allocation, difficulties in establishing accountability when automated systems make life-altering decisions, and the rising costs associated with building and maintaining AI infrastructure. Recognizing that powerful corporate interests have significant lobbying power, Better Markets, alongside allies, commits to amplifying Main Street’s concerns and priorities, ensuring that this extraordinary technology is harnessed for universal progress rather than concentrated gain.
