Milei defended the development of artificial intelligence and called on scientists and entrepreneurs from around the world

The president Javier Milei defended the development of artificial intelligence and called on scientists, entrepreneurs, creators, and investors from around the world to look towards Argentina.

During his speech at the United Nations General Assembly, the president stated that technology can transform productivity and proposed that the country will seek to become a development hub for the activity.

The official proposal includes tax benefits, a clear legal framework, and the decision to avoid preventive regulations that would limit innovation.

In this regard, he linked the opportunities of artificial intelligence with the advantages that Argentina offers due to its availability of energy, critical minerals, food, and skilled human resources.

“The development of artificial intelligence can multiply our productivity by orders of magnitude that we still do not understand,” the President asserted. He explained that the impact of this technology could extend to sectors such as the economy, medicine, education, and public administration.

A tool to expand productivity

Milei compared the potential of artificial intelligence to the impact that the division of labor had during the Industrial Revolution. To develop his argument, he referenced the economist Adam Smith and the pin factory, asserting that AI could generate a productivity leap of a magnitude still difficult to measure.

The president also questioned the criticisms regarding the massive destruction of jobs and the dystopian scenarios associated with technological advancements. He recalled that similar fears had arisen during previous transformations and stated that innovation allowed for the creation of new activities and job opportunities.

“Prudence does not mean fear,” Milei stated when referring to the risks associated with AI. He also asserted that throughout history, fears regarding technological changes have been used as arguments to limit individual freedoms.

In contrast, he announced that Argentina will seek to offer “a cutting-edge legal framework”, with limited liability for companies developing artificial intelligence agents and tax benefits to attract projects related to the entire value chain.

A call to those seeking to develop projects

In the final part of his presentation, Milei made a call to scientists, entrepreneurs, creators, and investors who are evaluating where to establish their projects. The President invited them to consider the opportunities in the country and linked this call to the Argentinian tradition of welcoming people who seek to build a new future.

"To the free men and women of the world, to scientists, to entrepreneurs, to creators, to those who dreamed of a land to start anew, I say: look to the south,” he affirmed.

Milei also positioned the development of artificial intelligence within a geopolitical dispute and stated that the West must lead this process. In this vein, he related technological advancement to values such as life, liberty, private property, and human dignity.

“Argentina will be at the forefront of freedom” in the face of artificial intelligence, the president asserted, closing his speech with a defense of a country “free, prosperous, sovereign,” open to the world and willing to attract talent and investments.

In this context, he maintained that the growth of productivity should not be accompanied by higher levels of public spending, monetary issuance, or fiscal deficits. He also suggested that the expansion of production would find limits in demand, available financing, and the value that people place on their free time.

Criticism of regulations

The head of state criticized the possibility of international organizations promoting regulations on artificial intelligence. According to his argument, granting the state the capacity to regulate the development of this technology would give officials and bureaucrats tools to restrict private initiatives.