Shemaine Bushnell Kyriakides
Calum Chace, a well-known expert in Artificial Intelligence (AI), recently took the stage at the Digital Agenda Cyprus Summit 2024 to share his insights into the future of AI and its impact on our world. As an author and futurist, Chace has spent years writing and speaking about how AI could change everything—from the way we work to the way we live. His presence at the summit sparked great interest, particularly due to his thought-provoking views on AI's potential to reshape economies and societies. Watch his full interview below.
Who is Calum Chace?
as AI takes over more jobs, UBI could be a way to ensure that people still have financial security. “It’s not a perfect solution, but it’s one way to help people adjust to the changes AI will bring"
Calum Chace didn’t start out as an AI expert. For 30 years, he worked in journalism and marketing and was a senior executive at various companies. It was his deep curiosity about the future of technology that eventually led him to focus on AI. Chace is best known for his bestselling books like Surviving AI, The Economic Singularity, and Pandora’s Brain. Through his writing, he explores the exciting—and sometimes scary—possibilities that AI brings to the table.
AI and the future of jobs
During his talk at the Digital Agenda Cyprus Summit, Chace highlighted how AI is already changing industries around the world, and he predicted even bigger changes to come. One of his key messages was about how AI might lead to what he calls an “economic singularity”—the point when machines and software become so advanced that they take over most jobs that humans do today.
In his interview after the talk, Chace said: “AI has the potential to take on many of the jobs that we consider essential today. This could be a good thing if we manage it well, but it also means we have to prepare for a world where work is redefined.”
Chace explained that while this shift could bring about major benefits—like freeing people to pursue more creative or fulfilling careers—it could also cause problems if societies aren't ready for such changes. Job displacement is a real concern, and governments, companies, and communities will need to work together to create safety nets for those affected.
AI in Cyprus: Opportunities for growth
When asked about AI's role in smaller economies like Cyprus, Chace was optimistic. “Countries like Cyprus have a unique opportunity right now,” he said during the interview. “By investing in AI technologies and digital infrastructure, Cyprus can position itself as a leader in innovation. AI can be a game changer in industries like tourism, healthcare, and finance, which are all important to Cyprus.”
He also emphasized the importance of education and digital literacy, encouraging Cyprus to focus on training its workforce for an AI-driven future. “The sooner you equip people with the right skills, the better prepared your economy will be. This is especially true for countries that rely on sectors like tourism, where AI could play a huge role in improving customer experiences and services.”
A balanced approach to AI
Chace doesn’t just focus on the benefits of AI—he’s also careful to point out the challenges. During the summit, he stressed that while AI holds incredible promise, there are ethical concerns that need to be addressed. In the interview, he said: “AI is a powerful tool, but like any powerful tool, it can be misused. We need to have clear regulations and ethical guidelines to ensure that AI is used for the benefit of everyone, not just a few.”
Chace also mentioned that he is a supporter of what's known as "Universal Basic Income" (UBI)—a system where every citizen receives a regular, unconditional payment from the government. He believes that as AI takes over more jobs, UBI could be a way to ensure that people still have financial security. “It’s not a perfect solution, but it’s one way to help people adjust to the changes AI will bring,” he said.
Looking to the future
Calum Chace’s vision of the future, presented at the Digital Agenda Cyprus Summit 2024, made it clear that AI will be a driving force in shaping the next few decades. His insights about job displacement, economic opportunities, and ethical concerns resonated with the audience, reminding everyone that while AI offers amazing possibilities, it also requires careful planning and thoughtful policies.
For Cyprus, Chace's message was particularly important. As the country continues to invest in its digital future, it has the chance to harness AI in ways that could boost its economy and improve the lives of its citizens. With experts like Calum Chace leading the way, the conversation about AI’s impact is just beginning, but the future is already starting to take shape.
Watch the full interview below to hear more from AI expert Calum Chace:
