How the Benefitsand Harmsof AI Grew in 2024 [Video]

In 2024, both cutting-edge technology and the companies controlling it grew increasingly powerful, provoking euphoric wonderment and existential dread. Companies like Nvidia and Alphabet soared in value, fueled by expectations that artificial intelligence (AI) will become a cornerstone of modern life. While those grand visions are still far into the future, tech undeniably shaped markets, warfare, elections, climate, and daily life this year.

Perhaps technology’s biggest impact this year was on the global economy. The so-called Magnificent Seven—the stocks of Alphabet, Amazon, Apple, Meta, Microsoft, Nvidia, and Tesla—thrived in large part because of the AI boom, propelling the S&P 500 to new highs. Nvidia, which designs the computer chips powering many AI systems, led the way, with its stock nearly tripling in price. These profits spurred an arms race in AI infrastructure, with companies constructing enormous factories and data centers—which in turn drew criticismfrom environmentalists about their energy consumption. Some …