Conference Report

Threshold 2030

Threshold 2030

Modeling AI Economic Futures

Modeling AI Economic Futures

A two-day conference in Oct 2024 bringing together 30 leading economists, AI policy experts, and professional forecasters to rapidly evaluate the economic impacts of frontier AI technologies by 2030.

Context & Overview of the Conference

Threshold 2030 was a two-day conference hosted October 30-31st, 2024, in Boston, Massachusetts. It brought together 30 leading economists, AI policy experts, and professional forecasters to rapidly evaluate the economic impacts of frontier AI technologies by 2030. This event was hosted jointly by Convergence Analysis and Metaculus, with financial support from the Future of Life Institute.

The conference heavily leveraged scenario modeling to produce concrete, detailed outputs about potential AI futures. We asked attendees to consider a set of three plausible scenarios regarding the trajectory of AI development and consequent economic outcomes in the year 2030. 

Based on these scenarios, attendees conducted three forms of exercises:

Worldbuilding: Attendees created and discussed detailed, realistic descriptions of global societies and economies in 2030, focusing on their domains of expertise.

Worldbuilding: Attendees created and discussed detailed, realistic descriptions of global societies and economies in 2030, focusing on their domains of expertise.

Worldbuilding: Attendees created and discussed detailed, realistic descriptions of global societies and economies in 2030, focusing on their domains of expertise.

Economic Causal Modeling: Attendees created economic diagrams describing variables (e.g. labor automation, productivity) and observables that impact top-level measures of economic health (e.g. growth, inequality, quality of life).

Economic Causal Modeling: Attendees created economic diagrams describing variables (e.g. labor automation, productivity) and observables that impact top-level measures of economic health (e.g. growth, inequality, quality of life).

Economic Causal Modeling: Attendees created economic diagrams describing variables (e.g. labor automation, productivity) and observables that impact top-level measures of economic health (e.g. growth, inequality, quality of life).

Forecasting: Attendees applied Tetlockian forecasting techniques to key economic questions and generated useful forecasting questions to track.

Forecasting: Attendees applied Tetlockian forecasting techniques to key economic questions and generated useful forecasting questions to track.

Forecasting: Attendees applied Tetlockian forecasting techniques to key economic questions and generated useful forecasting questions to track.

In the following report, we’ll discuss attendee responses to the three scenarios, and share a deep-dive into the results from attendees on each of the three topics mentioned above.

Host Organizations

Convergence Analysis is a non-profit conducting strategic research to mitigate the existential risk posed by AI technologies. It is a leading organization in AI scenario modeling: research clarifying and evaluating possible and important AI scenarios. It also founded and runs the AI Scenarios Network, the first cross-organizational network coordinating scenario researchers for AI outcomes.

Metaculus is an online forecasting platform and aggregation engine working to improve human reasoning and coordination on topics of global importance. It offers trustworthy forecasting and modeling infrastructure for forecasters, decision makers, and the public.

The Future of Life Institute focuses on reducing risks from emerging technologies, particularly Artificial Intelligence. Its work consists of grantmaking, educational outreach, and advocating for better policy making in the United Nations, U.S. government and European Union institutions.

Motivation

The rapid advancement of artificial intelligence technologies presents both unprecedented opportunities and challenges for the global economy. As AI capabilities continue to expand, there is an urgent need to better understand and prepare for the potential economic impacts these technologies may have across society. However, there are currently significant gaps in our understanding of how AI might reshape economic systems, particularly under scenarios of rapid capability advancement.

Three key factors motivated the organization of Threshold 2030:

First, there is a notable lack of concrete research examining the economic impacts of specific AI scenarios, particularly those involving rapid timelines. While considerable work has explored general AI impacts on labor markets and productivity, few studies have created detailed models explaining potential economic futures if no significant governance interventions occur. This gap in understanding makes it difficult for policymakers and other stakeholders to make informed decisions about AI governance and economic policy.

Second, the absence of concrete scenarios has contributed to insufficient public awareness regarding the urgency of evaluating potential AI economic outcomes. Most proposals to improve economic futures remain well outside mainstream policy discussions, despite the potentially transformative nature of AI technologies. By developing more concrete scenarios and economic models, we can better communicate both the opportunities and risks of AI systems.

Third, scenario modeling presents a compelling and underutilized methodology for producing better predictions about uncertain futures. This approach offers several key advantages:

It allows participants to reason from shared assumptions rather than divergent priors, enabling more productive discussion

It allows participants to reason from shared assumptions rather than divergent priors, enabling more productive discussion

It allows participants to reason from shared assumptions rather than divergent priors, enabling more productive discussion

It reduces uncertainty by providing clear parameters and guidelines for analysis

It reduces uncertainty by providing clear parameters and guidelines for analysis

It reduces uncertainty by providing clear parameters and guidelines for analysis

It facilitates comparison of different outcomes, helping identify how specific variables impact economic and societal outcomes

It facilitates comparison of different outcomes, helping identify how specific variables impact economic and societal outcomes

It facilitates comparison of different outcomes, helping identify how specific variables impact economic and societal outcomes

It supports the development of concrete policy recommendations tied to specific scenarios

It supports the development of concrete policy recommendations tied to specific scenarios

It supports the development of concrete policy recommendations tied to specific scenarios

By bringing together leading economists, AI policy experts, and professional forecasters to rapidly evaluate potential economic impacts through structured scenario modeling, Threshold 2030 aimed to:

1

Develop a clearer understanding of how economists view outcomes under extremely rapid AI advancement scenarios.

1

Develop a clearer understanding of how economists view outcomes under extremely rapid AI advancement scenarios.

1

Develop a clearer understanding of how economists view outcomes under extremely rapid AI advancement scenarios.

2

Create better frameworks & metrics to measure AI's economic impacts.

2

Create better frameworks & metrics to measure AI's economic impacts.

2

Create better frameworks & metrics to measure AI's economic impacts.

3

Generate concrete research questions to address uncertainties around economic impacts & policies for a post-AI economy.

3

Generate concrete research questions to address uncertainties around economic impacts & policies for a post-AI economy.

3

Generate concrete research questions to address uncertainties around economic impacts & policies for a post-AI economy.

4

Build stronger connections & consensus between AI policy experts and leading economists.

4

Build stronger connections & consensus between AI policy experts and leading economists.

4

Build stronger connections & consensus between AI policy experts and leading economists.

This work is critical for field-building in the domain of AI economics and policy. As AI capabilities continue to advance, having robust frameworks for understanding potential economic impacts becomes increasingly important for ensuring these technologies benefit society broadly. The insights developed through conferences like Threshold 2030 can help inform policy discussions and decision-making around AI development and deployment.