AI will end the west’s weak productivity and low growth. But who exactly will benefit? | Larry Elliott

With swaths of white collar jobs at risk, the clock is ticking on the development of policy to meet this huge societal challenge

Elon Musk is not most people's idea of a classic technophobe, so when the owner of Twitter warns of the dangers of artificial intelligence, it is worth sitting up and taking notice. Fearful that a new generation of ever-smarter machines threatens life on Earth as we know it, Musk was one of many at the cutting edge of technological change calling for a six-month timeout in the training of new AI systems.

There is nothing new in the idea that the machines are coming, and they are out to get us. Techno-optimists are right to say that the same arguments were aired by Luddites in the early 19th century. By this token, the chatbot ChatGPT is to the fourth industrial revolution what the spinning jenny was to the first - a product that symbolises the dawning of a new era.

Larry Elliott is the Guardian's economics editor