The rapid financing of the AI boom through massive corporate debt issuance is creating significant stress on global financial markets. This influx of private capital forces competition with government Treasury bonds, as AI companies offer higher yields than equivalent sovereign debt, thereby pushing up long-term interest rates. While this signals strong investment demand for AI, it raises concerns about systemic risk and the potential destabilization of core bond markets. Policymakers must navigate the tension between fueling critical technological growth and maintaining stable public borrowing costs to prevent a financial crisis.
AI risks from non-state actors
English Summary
This collection of essays argues that the United States and China must coordinate to mitigate the 'malicious uplift' of non-state actors using advanced AI for cyberattacks, biological weapons, and disinformation. The authors highlight that AI's low cost and high accessibility create systemic risks that traditional arms control cannot easily manage, necessitating shared safety guidelines and crisis communication channels. Ultimately, bilateral cooperation is viewed as a necessary catalyst for a global multilateral non-proliferation framework to prevent 'safety arbitrage' by malicious groups.
中文摘要
這部論文集主張，美中兩國必須加強協調，以緩解非國家行為者利用先進人工智慧進行網路攻擊、開發生物武器及散布假訊息所帶來的「惡意賦能」（malicious uplift）風險。作者強調，人工智慧的低成本與高普及性造成了傳統軍備控制難以應對的系統性風險，因此有必要建立共同的安全準則與危機溝通管道。最終，雙邊合作被視為推動全球多邊防擴散框架的必要催化劑，旨在防止惡意組織利用各國間的「安全套利」（safety arbitrage）漏洞。
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