Essay

Culture

Identity

29 May 2024

8 min read

Roll on AI, you'll make us more human

I’m not necessarily stupidly optimistic about AI, but there’s a tentative case to be so.

Daniel Kim

Daniel is an advertising strategist turned vicar-in-training.

An AI-generated image of a man folding a paper plan in a relaxed lounger, around him are creative tools and screens giving status updates are visible.

Nick Jones/Midjourney.ai.

I still come across people who insist that there are simply things that AI (artificial intelligence) can’t and will never be able to do. Humans will always have an edge. They tend to be journalists or editors who will insist that ChatGPT’s got nothing on their persuasive intentionality and honed command of nuance, wit, and word play. Of course, machines can replace the humans at supermarket check-out tills but not them. What they do is far too complex and requires such emotional precision and incisive insight into the audience psyche. Okay then. I nod, rolling my eyes into the back of my head.

At this point, it’s just naive to put a limiter on the capabilities of what AI can do. It’s not even been two years since ChatGPT3 was released into the wild and started this whole furore. It’s only been 18 months and OpenAI have just launched ChatGPT4 which can produce a whole persona who can listen, look, and talk back in such a natural and convincing voice that it may as well be a scene from the 2013 film, Her. A future where Joachim Phoenix falls in love with the sultry AI voice of Scarlet Johannsson doesn’t seem too far off. We have been terrible at predicting the speed at which generative AI has developed. AI video generation was one of the clearest examples of that in the last year. In 2023, we were lauding it over the AI models for generating this surreal, nightmarish scene of Will Smith eating spaghetti. “Silly AI! aren’t you cute.” we said. We swallowed our words earlier this year, when Open AI came out with Sora, their video generation model, which spat out photorealistic film trailers that would feel at home on the screens of Cannes.

There might be limits, but that ‘might’ gets smaller and smaller every single month, and we’re probably better off presuming that there is no ‘might’. We’ll be in for less surprises if we live from the presumption that there will be AIs that will make better newspaper editors, diagnostic radiologists, children’s book writers, and art-directors than most, if not all, humans.

With the mass reproduction and generation capabilities of AI, we may recognise that we crave the human touch not because it’s better but because it’s human.

I promised you a “stupidly optimising” take on this. So far, I’ve given you nothing but the bleak dystopian future where the labour market collapses and humans are dispossessed of all our technical, editorial, and creative skills. Where’s the good news?

Well, the stupidly optimistic take is this: the dispossession of all our human faculties by AI will force us to embrace the truest and most fundamental core of what makes us valuable - nothing other than simply our humanity. The value of humanity goes up if we presume that everything can be done better by AI.

In 1936, the German art critic, Walter Benjamin, prophesied the apocalyptic collapse of the art market in the essay: The Work of Art in the Age of Mechanical Reproduction. It was at a time when photographic reproduction of paintings was becoming a mainstream technique and visitors to a gallery could buy a print of their favourite painting. He argued that the mass reproduction of paintings would devalue the original painting by stripping away the aura of work - its unique presence in space and cultural heritage; the je ne sais quoi of art that draws us to a place of encounter with it. Benjamin would gawp at the digital age where masterpieces would be reduced to default iPhone background screens, but he would also be surprised by the exponentially greater value the art market has placed on the original piece. The aura of the original is sought after, all the more, precisely because mechanical reproduction has become so cheap. Why? Because in a world of mass reproduction, we crave human authenticity and connection. With the mass reproduction and generation capabilities of AI, we may recognise that we crave the human touch not because it’s better but because it’s human. And for no other reason.

We continually place our identities in whatever talents we think make us uniquely worthwhile and value-creating for the world.

What are we to make of the AI trials happening in the NHS which spot cancer at rates significantly higher than any human doctor. The Royal College of Radiologists insists that “There is no question that real-life clinical radiologists are essential and irreplaceable”. But really? Apart from checking the AI’s work, what’s the “essential” and “irreplaceable” part? Well, it’s the human part. Somebody must deliver the bad news to the patient and that sure as hell shouldn’t be an AI. Even if an AI could emulate the trembling voice and calming tone of the most empathic consultant, it is the human-to-human interpersonal exchange that creates the space for grief, sorrow, and shock.

Think utopian with me for a moment. (I know, very counter-intuitive for us). In a society where all our technical skills are superseded, the most valuable skills that a human could possess might be the interpersonal ones. Empathy, compassion, intentionality, love even! The midwife who can hold the hand of a suffering first-time mother could be a more respected member of society than the editor of an edgy magazine or newspaper. As they should be! That’s a tantalising and stupidly optimistic vision of an AI future, but it’s a vision that aligns with what we know to be the true about ourselves. In our personal and spiritual lives, we already recognise that the most valuable aspects of our lives are our human relationships and the state of our inner selves. People on their death beds reflect on what kind of person they’ve been and reach out for the hands of their loved ones - not for their Q4, 2011 balance sheet. Our identities are shaped most deeply by our relationships and our character, and yet, we continually place our identities in whatever talents we think make us uniquely worthwhile and value-creating for the world. It’s good to create value, it’s nice to be good at something, and it’s meaningful to leave a lasting impact, but it is delusional to think that those things make us valuable. Our dispossession by AI might be the dispelling of these delusions!

In a few decades, there may be nothing that humans can do better than AI, other than simply being human in the world.

At least on a philosophical and spiritual level, being stripped of our human exceptionalism might be the most liberating experience for a society that has devalued and instrumentalised humanity to being glorified calculators. Being dispossessed is the truest thing about all of us. We are all being dispossessed daily by the slow march of time. The truest thing about us is that we will, one day, be wholly dispossessed by death itself. That was Heidegger’s fundamental insight into the human condition and this feeling of dispossession is the root of our anxiety and fear in the world. This might be part of the anxiety and ick we feel towards AI. Being dispossessed of our creativity and technical ability is a kind of violence and death against ourselves which we rage against. We can rage against it politically, socially, and economically, but there might be something helpful about resisting the rage from a psychological and spiritual point of view. Experiencing this dispossession might be the key to unlocking an authentic human existence in a world that we can’t control.

I believe in human creativity. I believe that what we make is valuable. I believe in the mesmerising aura of art, cinema, music, and every other beautiful thing that we get up to in the world. I believe in the unique connection between artist and audience and the power of blood, sweat, and tears. I believe in the beautiful and tortuous self-violence of creativity to make something that will make my heart tremble and transport me to places never imagined. I believe in the intuitions of an editor to make the cut at precisely the right moment that suspends the tension and has me gripping the seat. I believe in the bedroom teenagers recording their first demos on Garageband, or the gospel choir taking their congregations to heaven and back. Now, more than ever, I believe in these miracles.

But my belief is not anchored in any unique technical excellence, or some hubris about our exceptionalist mastery of craft. It is rooted in the profound humanity of it all, which radiates, however dimly, with the image of the divine. Writing poetry, humming a new melody, baking a cake or, even discovering a new mathematical conjecture can feel like “divine inspiration” as the leading mathematician, Thomas Fink, asserts. Or as the Romantic German theologian, Schleiermacher, so rhapsodically expressed, it can feel like the soul being “ignited from an ethereal fire, and the magic thunder of a charmed speech’" from above. This transcendent human experience is something that AI can’t usurp or supersede.

In a few decades, there may be nothing that humans can do better than AI, other than simply being human in the world. However, Once we are stripped of everything, we won’t find ourselves naked in the dark, or at least, we don’t have to. We can stand before the world and God with the works of our hands - finite, flawed, and dispossessed - and yet, inestimably valuable and worthwhile for the simple fact of our mere humanity.

*This article was something of a thought experiment. It’s far more natural to take a sandwich-board, bullhorn-wielding apocalyptic take on the rise of AI. The powers-to-be at Microsoft and OpenAI have their own ideological agendas, and it’s not unlikely that in this technological cycle, we’ll live through a profoundly destabilising labour market. We are right to fear the consolidation of wealth to supreme tech feudal lords with their companies of AI employees who cost a fraction of real humans. Civilisational collapse! What I wanted to suggest here is that there might be a unique spiritual and philosophical opportunity afforded to us as we continue to experience the break-neck development of AI and its encroachment into everything we once held as uniquely human skills.*

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Article

Culture

Economics

Ethics

1 May 2025

6 min read

The rights and wrongs of making money with meme coins

When does investing become speculating, or even addictive gambling?

Laurence Fletcher

Laurence Fletcher is a journalist at the Financial Times.

A montage shows Trump with a raised fist against other images of him and the phrase 'fight fight fight'.

$Trump coin marketing image.

gettrumpmemes.com,

Donald Trump’s “liberation day” tariffs may have driven sharp swings in global financial markets, but his actions in markets a few months earlier were in some ways even more peculiar.

On the Friday before his inauguration as the 47th US President in January, the Republican surprised many with the launch of the $TRUMP memecoin, described by its website as “the only official Trump meme”. The cryptocurrency token, in which Trump’s family business owned a stake, initially soared in value to more than $14bn over that following weekend.

Then, on the Sunday, Trump’s wife Melania launched her own memecoin, $MELANIA, which reached a value of $8.5bn. Even the pastor who spoke at the president’s inauguration subsequently launched his own memecoin.

For those wondering what exactly a memecoin is, you are not alone. In short, they are a form of cryptocurrency - an asset class that itself has attracted plenty of questions about its substance and purpose - representing online viral moments. They have no fundamental value or business model and, according to the US securities regulator, “typically have limited or no use or functionality”.

Donald and Melania Trump’s coins subsequently plunged in price, but still have a value of around $2.5bn and $214mn respectively, according to website CoinMarketCap.

There are plenty of others in existence. PEPE, based on a comic frog, has a value of around $3.6bn; BONK, a cartoon dog, has a market cap of $1.5bn; and PNUT, a reference to a squirrel euthanised by authorities in New York and about which Trump was allegedly “fired up” (although doubt has since been cast on the president’s involvement in the matter), is still valued at around $174mn, despite having fallen sharply in price.

Dogecoin, seen as the world’s first memecoin and originally created as a joke, boasts a market value of around $25bn. (There are other memecoins which may not be suitable for these pages).

Some people’s willingness to buy an “asset” with no use or fundamental value may seem strange to more traditional investors. But it can be viewed as just one manifestation of the speculative investor behaviour evident since the onset of the coronavirus pandemic and, indeed, at times throughout history.

The price of Bitcoin recently rose above $100,000, despite many investors still viewing it as having little or no value (in 2023 the UK’s Treasury select committee described cryptocurrencies as having “no intrinsic value, huge price volatility and no discernible social good”). In early 2021, shares in GameStop - a loss-making US video games retailer that some hedge funds were betting against - rocketed as much as 2,400 per cent, as retail investors piled in, many with the aim of inflicting pain on the hedge fund short sellers (in that respect at least, a highly successful strategy that became the subject of the film Dumb Money). The huge rise in AI and other tech stocks in recent years - until the recent tariff-driven volatility - has also been described as a bubble by some commentators.

Whether or not such episodes can be compared to infamous bouts of speculative mania in history depends on your point of view (and often can only be judged with the benefit of hindsight) - be it the 17th century Dutch tulip bulb mania, shares in the South Sea Company in the 18th century or the dotcom boom and bust of the late 1990s and early 2000s.

But it does give rise to the question of when investment should start to be described as speculation or even as gambling? And what are the rights and wrongs of any of those activities?

There can be negative effects, for instance if the actions of speculators force businesses in the real economy to change their plans or divert time and resources...

Gambling can be thought of as risking a stake on, for instance, the result of a game of chance or sport in the hope of a bigger payout. While often the result is purely down to chance, in some cases a strategy or an element of research (for instance of a horse or football team’s form) can be used. Investment, in contrast, tends to involve purported economic utility and assets believed to have some sort of underlying value, and holds the hope of future profit (although there are also plenty of bad investments or those that have gone to zero). While an investor must be prepared to lose their entire stake, in some cases such an event is relatively unlikely (for instance, if they buy a fund tracking the performance of a major stock exchange). Speculation is harder to define, but is generally seen as shorter term than investment, with more chance of a bigger gain or loss, and dependent on price fluctuations. Rightly or wrongly, the term has a more negative connotation than investment.

One writer who explored the ethics of these activities was Oswald von Nell-Breuning, a Jesuit theologian and economist who served as an adviser to the Pope and who was banned from publishing under the Nazis.

While he found that “one general definition cannot capture all the nuances” of speculation, he identified two different types of speculative activity - one that was purely trying to make a profit from financial market trading, and one based on trying to create a viable business. (See this article in the Catholic Social Science Review for a fuller explanation of Nell-Breuning’s views on speculation).

As the CSSR article shows, Nell-Breuning found that there can be positive effects from speculation - one might think of better liquidity and price discovery in a market, while, in commodity futures markets, speculators allow producers to hedge risk.

But he also argued that there can be negative effects, for instance if the actions of speculators force businesses in the real economy to change their plans or divert time and resources away from production.

And whereas gambling typically takes place within a circle of players who have chosen to take part, speculation, he wrote, can affect a greater portion of society - for instance, if it affects the price of shares or bonds they hold.

The Bible - on which Nell-Breuning’s faith and analysis was based - does not take a prescriptive approach to such activities. But it does provide some interesting guidance.

An entrepreneurial approach to business and investment is applauded, for instance when the writer of the book of Proverbs (traditionally believed to be King Solomon) praises the virtues of “an excellent wife”. These include investing in a field and using her earnings from business to plant a vineyard, and feeding her family from her gains.

Jesus tells a story of a master who, before going on a journey, gives his property to his servants, each according to their ability. To one he gives five “talents” (a large unit of money), to a second two and to a third servant he gives one.

The first servant trades with his talents and makes five more talents - a 100 per cent profit - and is applauded by the master on his return. The second servant also trades and similarly makes two more talents and is again applauded.

But the third servant, being afraid and believing the master to be “a hard man”, hides the money in a hole in the ground. He is condemned as “wicked and slothful”, and told that he should at least have put the money in the bank.

While Jesus’s story may primarily be about how we view God’s nature, how we use our God-given abilities and whether or not we can take risks in faith for Him, it is also hard not to see investment and indeed wise speculation as being virtuous activities here. Putting the money into a bank account is, in this story anyway, more of a fallback option.

But the Bible also warns us against putting money above all else in our lives. The love of money is, famously, a root of all sorts of evil, while we are also told to be content with what we have, and that “wealth gained hastily will dwindle”.

Nell-Breuning similarly warns that a “get-rich-quick” mindset, when this is placed above all else, can be harmful, and advises caution in situations where the lure of big profits can lead the speculator into market manipulation or fraud.

After all, both gambling and crypto trading have the potential to become dangerous and damaging addictions needing treatment.

Ultimately, Nell-Breuning struggled to come to a simple conclusion on the question of whether speculation, in and of itself, is morally wrong. It is, he wrote, a judgment call for those involved.

When making such decisions ourselves, his - and the Bible’s - warnings may be worth bearing in mind.