Oil and currency bias shape our technologies

Oil and currency bias shape our technologies

Oil and currency bias shape our technologies
As AI evolves, it will reflect our biases, aspirations, and perhaps, our greatest follies. (Shutterstock image)
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In the bustling metropolis of Techville, where innovation never sleeps and ethics occasionally gets a caffeine boost, the latest debate has everyone buzzing. 

This time, it is not about the next killer app or the latest in wearable tech, but something far more profound and perplexing: Artificial intelligence and ethics. 

And at the heart of this conversation is the ever-eloquent John Bright, whose insights are as sharp as his tongue.

Bright, a figure known for his unfiltered views, recently opened a can of worms — or perhaps a barrel of oil — on the subject. 

“You tell me, you read this rubbish. Oil is the most traded commodity in the world. 1 billion barrels are traded each day in US dollars. You think anyone is ready to change that?” Bright declares with the certainty of a seasoned tech prophet.

“Total demand for oil each year is 100 million barrels, and daily oil traded in derivatives markets is 1 billion. There is no such currency to sustain these volumes.” 

Now, you might be wondering, what does all this have to do with AI and ethics? In Techville, everything is connected — sometimes by a mere line of code. 

The ethical dilemma arises when we consider the overwhelming bias and control exerted by such financial structures over global markets and technology.

Imagine, if you will, an AI developed in Techville. It is designed to predict market trends and make investments. This AI, despite its impressive algorithms, is inherently biased toward the US dollar because of the sheer volume of oil traded in that currency. 

Here lies the irony: A machine, devoid of emotions, inherits the biases of its creators and their economic realities. 

But this time maybe it is right.

Techville’s residents, always keen on a good debate, have taken this statement to heart. The underlying issue is simple yet profound: If oil trading remains firmly tied to the US dollar, can any other currency — or even cryptocurrency — hope to break this stranglehold? 

Bright’s dismissive view of alternative currencies adds fuel to the fire. “The euro? Not a strong currency. The yuan? Pegged to the US dollar. Cryptocurrency? There isn’t enough of it.”

All this enters into an irony that Socrates might have pondered. “Does an AI that mirrors human biases truly understand the nature of its decisions?”

Bright, ever the pragmatist, does not shy away from highlighting these biases. His point? Even the mightiest have vulnerabilities, and the structures we rely on are far more fragile than we care to admit.

Can we trust AI to make unbiased decisions when it operates within a system so skewed by economic realities?

Rafael Hernandez de Santiago

Philosophers have long mused about the ethical implications of our technological advancements. 

Plato, if he were around, might suggest that our AI systems are merely shadows on the cave wall, reflecting deeper truths about our society’s biases and dependencies. 

Nietzsche, ever the provocateur, might argue that our AI, like us, is bound by the power structures of its creators, forever echoing human flaws.

In Techville, these philosophical musings are not just academic exercises; they have real-world implications. The ethical dilemmas posed by AI are complex, especially when intertwined with the global oil market’s biases. 

Can we trust AI to make unbiased decisions when it operates within a system so skewed by economic realities?

The city’s thinkers are deeply divided on this issue. Some argue that as long as the world remains tethered to oil and the US dollar, any AI we develop will be inherently flawed.

Others hold out hope that AI can transcend these biases, offering a glimpse of a more objective and fair system. It is a debate reminiscent of Descartes’ quest for certainty in a world of doubt.

Bright, with his characteristic wit, brings us back to earth.

“X is not doing great, collapsed real estate, collapsed financial and banking sector, low birth rate and declining population. Their stock market collapsed, etc. And they’re being attacked everywhere with their exports of electric vehicles and raising tariffs.”

So, where does this leave Techville’s AI ethics debate? In a state of perpetual irony, humor, and serious contemplation. The city’s brightest minds continue to grapple with these questions, knowing that the answers are as elusive as ever.

In a world where power dynamics and economic dependencies shape our technologies, the quest for ethical AI remains a journey more than a destination.

Bright, with his razor-sharp insights, ensures that the conversation stays both lively and grounded. He will undoubtedly remain at the forefront, reminding us all that while technology may advance, the ethical dilemmas it poses are as old as humanity itself.

As AI evolves, it will reflect our biases, aspirations, and perhaps, our greatest follies.

In Techville, where the future is always just a line of code away, the debate rages on, a testament to humanity’s enduring struggle to reconcile innovation with ethics.

Rafael Hernandez de Santiago, viscount of Espes, is a Spanish national residing in Saudi Arabia and working at the Gulf Research Center.

 

Disclaimer: Views expressed by writers in this section are their own and do not necessarily reflect Arab News' point of view

South Korea sets snap presidential election for June 3, drawing out contenders

South Korea sets snap presidential election for June 3, drawing out contenders
Updated 51 sec ago
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South Korea sets snap presidential election for June 3, drawing out contenders

South Korea sets snap presidential election for June 3, drawing out contenders
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President Yoon ousted last week after December martial law

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Multiple candidates emerge amid political turmoil

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Opposition leader Lee Jae-myung frontrunner in polls
By Joyce Lee
SEOUL: Leading contenders began to throw their hats in the ring on Tuesday as South Korea officially set June 3 for a snap presidential election triggered by last week’s removal from office of impeached leader Yoon Suk Yeol.
The power vacuum at the top of government has impeded Seoul’s efforts to negotiate with the administration of US President Donald Trump at a time of spiralling US tariffs and slowing growth in Asia’s fourth-largest economy.
Yoon was removed on Friday over his short-lived declaration of martial law in December that plunged the key US ally into crisis, triggering a new election that could reshape its foreign and domestic policy.
“The government intends to designate June 3 as the 21st presidential election day,” Acting President Han Duck-soo told a cabinet meeting, citing factors such as the time political parties need to prepare for the event.
Yoon’s labor minister Kim Moon-soo is among a handful of hopefuls who have signalled their intention to run, resigning his post on Tuesday and saying he would launch his campaign.
While not officially a member of Yoon’s People Power Party at the moment, Kim has been polling better than other conservative contenders.
“I tendered my resignation and decided to run because the people want it, people I know want it, and I feel a sense of responsibility to solve national difficulties,” Kim told reporters.
Economic conditions during a “severe national crisis” are hurting people’s livelihoods, he said.
“I thought that all politicians and people should unite to overcome the crisis and work together to help the country develop further,” Kim said.
Ahn Cheol-soo, a PPP lawmaker who was its first to vote for Yoon’s impeachment, also declared his intention to run on Tuesday, saying he was a “cleaner candidate than anyone else.”
He also vowed to secure new economic growth engines including artificial intelligence, to counter Trump’s trade policies.
Ahn fought the last three presidential elections, winning more than 21 percent of the popular vote in 2017, but dropping out and endorsing other candidates in the other two. He is not polling high enough to be included in most recent surveys.
Kim and Ahn will join a wide open field of conservative candidates trying to overcome their party’s second impeachment in as many presidencies.
Conservative Park Geun-hye was impeached, removed from office, and imprisoned in 2017 over a corruption scandal.
Lee Jae-myung, the populist leader of the liberal Democratic Party who lost to Yoon by a razor-thin margin in 2022, is a clear front-runner, but faces legal challenges of his own.
These include multiple trials for charges such as violating the election law and bribery.
Nevertheless, he is expected to step down as DP leader and declare his candidacy as soon as this week.
A Gallup poll published on Friday showed 34 percent of respondents supported Lee as the next leader, while 9 percent backed Kim, 5 percent opted for former PPP leader Han Dong-hoon, 4 percent chose Daegu mayor Hong Joon-pyo, and 2 percent plumped for Seoul mayor Oh Se-hoon.
Yoon was removed by the Constitutional Court for violating his official duty by issuing a martial law decree on December 3 and mobilizing troops in a bid to halt parliamentary proceedings.
The law requires a new presidential election to be held within 60 days if the position becomes vacant.
Yoon still faces criminal insurrection charges, with arguments in his trial to begin on April 14.
South Korea has faced months of political turmoil since Yoon stunned the country by declaring martial law, triggering his impeachment by parliament and the impeachment of acting leader Han.
Han’s impeachment was later overturned by the Constitutional Court and he will stay in the role of acting president until the election.

US discusses tariffs, critical minerals, immigration with Pakistan

US discusses tariffs, critical minerals, immigration with Pakistan
Updated 7 min 49 sec ago
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US discusses tariffs, critical minerals, immigration with Pakistan

US discusses tariffs, critical minerals, immigration with Pakistan
  • US Secretary of State Marco Rubio speaks to Pakistan’s Foreign Minister Ishaq Dar over telephone
  • Both discussed making progress toward a “fair and balanced” trade relationship, says State Department

WASHINGTON: US Secretary of State Marco Rubio spoke to Pakistani Foreign Minister Ishaq Dar on Monday about tariffs, trade relations, immigration and prospects for engagement on critical minerals, the State Department and Pakistan’s foreign ministry said in separate statements.

President Donald Trump said last week that he would impose a 10 percent baseline tariff on all imports to the US and higher duties on dozens of other countries, including some of Washington’s biggest trading partners, rattling global markets and bewildering US allies. The Trump administration imposed a 29 percent tariff on Pakistan.

“They (Rubio and Dar) discussed US reciprocal tariffs on Pakistan and how to make progress toward a fair and balanced trade relationship,” the State Department said.

The US goods trade deficit with Pakistan was $3 billion in 2024, a 5.2  percent increase over 2023, according to the Office of the US Trade Representative.

“The Secretary raised prospects for engagement on critical minerals and expressed interest in expanding commercial opportunities for US companies.”

Pakistan’s foreign ministry said Rubio “reciprocated the desire to collaborate with Pakistan in trade and investment in various sectors, especially critical minerals.”

The Trump administration has also used prospects of engagement over critical minerals with other countries.

For example, it is attempting to strike an agreement over critical minerals with Ukraine as part of talks related to the Russia-Ukraine war. Washington has also said it is open to exploring critical minerals partnerships with Congo and help end a conflict raging in the African country’s east.

In the call with Dar, Rubio emphasized the importance of Pakistan’s cooperation with the US on law enforcement and addressing illegal immigration, the State Department said.

Last month, Pakistan highlighted its cooperation with Washington on countering extremism after the arrest of Mohammad Sharifullah, whom the US blames for a 2021 attack on its troops at Kabul airport, in a military operation along the border with Afghanistan.

The Pakistan foreign ministry said Rubio and Dar discussed the situation in Afghanistan.


Pakistan’s national airline says passenger arrested for attacking staff on Paris-bound flight

Pakistan’s national airline says passenger arrested for attacking staff on Paris-bound flight
Updated 15 min 36 sec ago
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Pakistan’s national airline says passenger arrested for attacking staff on Paris-bound flight

Pakistan’s national airline says passenger arrested for attacking staff on Paris-bound flight
  • Passenger punched woman flight attendant after she told him not to smoke mid-flight, says PIA 
  • PIA says police report filed against passenger who has been blacklisted by the national airline 

KARACHI: A passenger was arrested by French police this week for attacking members of a cabin crew after he was told not to smoke on a Paris-bound Pakistan International Airlines (PIA) flight, the national airline’s spokesperson said. 

The incident took place on the Islamabad-Paris PIA flight PK-749 on Sunday after a woman flight attendant told a passenger to stop smoking, the airline said. The passenger refused and behaved rudely, prompting the crew and the captain to intervene. 

The PIA said the passenger injured the flight attendant’s arm by grabbing and twisting it and punching her on the back. He also attacked the flight steward and the captain, but they managed to snatch the cigarette from the passenger. 

“The captain informed French authorities during the flight as per the rules, and police arrested the passenger upon the plane’s arrival in Paris,” the PIA spokesperson said in a statement on Monday. 

“A police report has been filed after recording the statements of the flight attendants and having them medically examined.” 

The spokesperson said that French laws are very strict in this matter, hoping that the passenger will not be granted any concession. 

“The passenger has been blacklisted by the PIA and he will not be able to travel on the national airline again,” the spokesperson said. 

He commended the PIA’s staff for tackling the matter professionally, adding that the law would now take its due course. 

The PIA began operating flights to Paris for the first time in four years from January this year. Its authorization to operate flights to the European Union had been suspended by the European Union Aviation Safety Agency (EASA) in June 2020 over concerns about the ability of Pakistani aviation authorities to ensure compliance with international standards.

The national airline operates two weekly flights to Paris. 


Pakistan eyes investments from Saudi Arabia, China, US as minerals summit kicks off

Pakistan eyes investments from Saudi Arabia, China, US as minerals summit kicks off
Updated 8 min 13 sec ago
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Pakistan eyes investments from Saudi Arabia, China, US as minerals summit kicks off

Pakistan eyes investments from Saudi Arabia, China, US as minerals summit kicks off
  • Ministers, heads of private mining companies from various countries expected to attend two-day forum in Islamabad
  • Pakistan’s petroleum minister says key agreements, memoranda of understanding will be signed at investment forum

ISLAMABAD: Pakistan is hosting ministers and officials of private mining companies from Saudi Arabia, China, the United States and a host of other countries for a two-day minerals summit in the capital today, Tuesday, as it eyes international investment in its natural reserves estimated to be worth $6 trillion.

Grappling with a prolonged macroeconomic crisis, Pakistan hopes to tap into its vast reserves of minerals and natural resources to turn its fortunes around. The country is home to one of the world’s largest porphyry copper-gold mineral zones, while the Reko Diq mine in southwestern Balochistan has an estimated 5.9 billion tons of ore. Barrick Gold, which owns a 50 percent stake in the Reko Diq mines, considers them one of the world’s largest underdeveloped copper-gold areas, and their development is expected to have a significant impact on Pakistan’s struggling economy. 

The Oil and Gas Development Company Limited (OGDCL), Pakistan’s leading exploration and production (E&P) company, in collaboration with the government of Pakistan and strategic partners are organizing the summit. Petroleum Minister Ali Pervaiz Malik said this week that the government expects around 2,000 people to attend the Pakistan Minerals Investment Forum from Apr. 8-9 in Islamabad, which would include a “significant” number of foreign dignitaries. 

“At the government level, ministers are also participating, heads of big private mining companies are also coming and those countries who would also be part of the discussions include participation from Turkiye,” Malik told reporters during a news conference on Monday. 

“Apart from this, we are expecting senior-level participation from China, from Azerbaijan, Saudi Arabia, China and the United States,” he said. 

He said the government will formally unveil Pakistan’s newly developed, investor-friendly National Minerals Harmonization Framework 2025, which aims to attract investment in the country’s mineral sector, at the forum. 

The minister said the summit would also feature key agreements and memoranda of understanding (MoUs) signed between Pakistan and other countries. 

“It is the prime minister’s wish that we do not restrict this event to just words, so we will confirm some MoUs in front of you,” Malik said. “Along with this, not just MoUs but a few agreements will also be executed after which we will take these matters toward implementation.”

Pakistan has designated mining and minerals as a priority sector for national economic development, aiming to reduce its reliance on imports and enhance exports. The country is undertaking efforts to utilize its natural resources through foreign investment and collaboration to stabilize its $350 billion economy, which has suffered a prolonged economic crisis over the past few years. 

Islamabad has aggressively pursued trade and investment with its regional allies, Central Asian states and Gulf countries in recent months to ward off a macroeconomic crisis that has drained its reserves, weakened its currency and triggered a balance of payment crisis. 

Pakistan formed the Special Investment Facilitation Council (SIFC), a hybrid civil-military government body, in 2023 to attract international investment in its key priority sectors, mining and minerals among them. 


Pakistan to launch today second phase of Hajj training for pilgrims

Pakistan to launch today second phase of Hajj training for pilgrims
Updated 08 April 2025
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Pakistan to launch today second phase of Hajj training for pilgrims

Pakistan to launch today second phase of Hajj training for pilgrims
  • The second phase of training program will include 142 workshops in 72 cities nationwide
  • Overseas Pakistanis will receive training at the relevant Hajj camps after returning home

ISLAMABAD: Pakistan is set to launch today, Tuesday, the second phase of mandatory training for Hajj pilgrims, the Pakistani religion ministry said, with 142 workshops scheduled to be held in 72 cities nationwide.
Pakistan conducted its first phase of training for Hajj pilgrims in Jan. that continued across the country until late Feb., with intending pilgrims trained via audio-visual devices and other materials.
Pakistani religious affairs minister Sardar Muhammad Yousaf has said that around 90,000 pilgrims are expected to perform Hajj under the government’s scheme this year, promising to ensure the best possible facilities for them.
As part of the second phase, Hajj workshops will be held in Islamabad, Mirpur Khas, Mirpur Mathilo, Qila Saifullah, Chakwal and Pishin districts on Tuesday, while training sessions will be held in Hyderabad, Mirpur Mirs, Zhob, Qila Abdullah, Chaman, Daki, Ziarat, Mianwali and Nowshera districts on Wednesday.
“The second phase of Hajj pilgrim training will continue until April 24,” the Pakistani religion ministry said. “Overseas Pakistanis will receive training at the relevant Hajj camps after returning home.”
Training programs will be held in Tando Adam, Nowshehro Feroze, Loralai, Haripur, Khushab and Kohat districts on April 10, while workshops in Benazirabad, Dadu, Mardan and Dera Ismail Khan districts will be held on April 11, the religion ministry said.
Pakistan and Saudi Arabia signed in Jan. the Hajj 2025 agreement, under which 179,210 Pakistani pilgrims were supposed to perform the annual pilgrimage under the government and private schemes.
However, the South Asian country failed to fulfill its private Hajj quota of pilgrims, prompting Prime Minister Shehbaz Sharif last week to constitute a three-member inquiry committee to probe why Pakistani authorities had failed to comply with the Kingdom’s Hajj 2025 policy and consequently lost the quota.
Pakistan will begin its Hajj operations on Apr. 29, when the first flight carrying Hajj pilgrims will depart from the eastern city of Lahore to Saudi Arabia.