““I am concerned about the dangerous concentration of power in the hands of a few wealthy people,” he said, speaking from the White House”, — write: www.radiosvoboda.org
“I am concerned about the dangerous concentration of power in the hands of a few wealthy people,” Biden said, speaking from the Oval Office of the White House.
According to him, the concentration of wealth in the hands of the few threatens not only democracy, but also basic rights and freedoms, as well as the expectation that everyone deserves a “fair chance” to succeed.
After spending one term as president, Biden will leave it on January 20 after the inauguration of President-elect Donald Trump, a billionaire backed by the CEO of Tesla and SpaceX, the world’s richest man, Elon Musk, and other wealthy people.
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Musk, who shares Trump’s right-wing politics, spent tens of millions of dollars last year supporting his presidential campaign and will attend the inauguration.
Two more famous American billionaires are also expected to attend Trump’s inauguration – Amazon founder Jeff Bezos and Facebook co-founder and Meta CEO Mark Zuckerberg.
Biden cited a number of his achievements, including leading the country out of the coronavirus pandemic during his first two years in office, supporting domestic manufacturing and limiting the cost of prescription drugs.
But he said US values were “constantly being tested”, warning about the potential growth of what he called the “tech industrial complex” and the future of artificial intelligence.
“Americans are buried under an avalanche of false facts and misinformation that allows abuse of power. The free press is neglected. Editors disappear. Social networks refuse to check facts. The truth is drowned out by lies both for the sake of power and for the sake of profit,” he said.
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To counter these trends, Biden says, social media platforms must take responsibility for protecting America’s children, families and democracy from abuse of power.
Artificial intelligence, he said, is an exciting development that could help solve problems, even help find cures for cancer, but it could also “give rise to new threats to our rights, our way of life, our privacy, the way we work and how we protect our nation.”
“Artificial intelligence is the most effective technology of our time, perhaps of all time. Nothing offers deeper opportunities and risks for our economy, our security, our society, for humanity,” the president added.
But it must also be “safe, reliable and useful for all mankind,” and, according to Biden, “as the land of the free, America, not China, should lead the world in the development of AI.”
Biden, who ousted Trump in the 2020 presidential election, will leave office next week after Trump defeated US Vice President Kamala Harris in the November 2024 election. Biden dropped out of the presidential race earlier that year due to concerns about his mental fitness to run.