'AI will be a revolution for work': French President Emmanuel Macron champions tech boom, calls for global wealth tax

French President Emmanuel Macron touted France's burgeoning tech industry, highlighting its potential to drive economic growth and social mobility. He also called for a global wealth tax to address the growing disparity between rich and poor, in an interview with CNBC this week.

Speaking from the Élysée Palace, Macron described technology as a "key factor of transformation of our economy," pointing to France's "Choose France" summit, an initiative he launched seven years ago to attract businesses and investment in tech. The summit has yielded 15 billion euros in investment, according to the president. "It provides growth, it provides innovation...it created a lot of opportunities for qualified and unqualified people," Macron declared, emphasising the tech industry's role in boosting social mobility.

However, Macron acknowledged the concerns surrounding the impact of artificial intelligence on the workforce. He stressed the need for a balanced approach, saying, "AI will be a revolution for work, for good and bad. Good, it's quite sure now that it will increase productivity...But it will push us to shift a lot of qualifications." This necessitates a focus on education and retraining, Macron argued, advocating for a proactive response to the potential job displacement caused by AI.

Furthermore, Macron expressed a desire for France to become a leader in AI, acknowledging the need to "accelerate, innovate, and invest." He also highlighted the importance of international cooperation in regulating AI, stating that "regulating at the appropriate scale, meaning the global one" is crucial to ensure AI serves humanity and doesn't become a "substitute of humanity."

Addressing wealth inequality, Macron asserted that "having a wealth tax is a global debate," advocating for a global wealth tax as a more effective solution than national or regional measures. He criticised the United States Treasury Secretary Janet Yellen's recent stance against a wealth tax, calling it "a pity." Macron argued that wealth concentration in the hands of a few is counterproductive, emphasising the need for "more fairness" on a global scale.

The interview comes amidst France's growing prominence as a tech hub, with companies like Mistral AI emerging as potential national champions. Macron's comments reflect his ambition for France to become a global leader in the burgeoning field of artificial intelligence, while simultaneously addressing the societal challenges posed by technological advancement and wealth inequality.