We shouldn’t fear superintelligence because it already exists

In this post I argue that a markets are very similar to AI. I then ponder whether AI poses an existential threat to humanity in light of the fact that we already have superintelligence.

Claim 1: Markets are superintelligent

I define a market to be a collection of humans and corporations who act in their own interest and trade goods, services, and assets.

I define superintelligent to mean “more intelligent than”. In this case I argue that markets are more intelligent than unorganized humans.

The metric by which I measure intelligence is the ability to produce goods and services. Clearly markets are better than unorganized humans at producing goods and services. That is to say, if markets didn’t exist, the total output of humanity would be much lower.

Claim 2: Markets are exponentially self-improving

Global GDP increases exponentially

Claim 3: Markets are hard to align

Even proponents of free markets agree that market failures occur for many reasons. For example, information asymmetry, externalities, and monopolies.

Claim 3: Markets are black boxes

At the risk of sounding cliché, I will mention “I, Pencil” as an example.

Markets make pencils, but humans don’t know how they are made. We don’t know who did the labor, we don’t know who supplied the wood, we don’t know who supplied the graphite, we don’t know who supplied the rubber, we don’t know who shipped the pencils. If we go another layer deeper, we don’t know who provided supplies to the people who provided supplies to the pencil-maker. And so on.

The point is, we don’t know how the pencils were made, but we still benefit from the pencils. Therefore markets are black boxes.

My attempt to summarize AI risk

AI may be an x-risk because:

  1. AI is superintelligent

  2. AI may exponentially self-improve

  3. AI is hard to align

  4. AI is a black box

Markets also have those 4 qualities! But clearly markets are not an x-risk, because humans have survived centuries with markets. Therefore these 4 conditions are not sufficient to say that something is an x-risk.

Please let me know if you agree or disagree, I am eager to see other arguments.