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Casey: the greatest theft humanity has ever seen

Take charge: Michael Casey, second left, leads attendees at a round table hosted by the Decentralised AI Society during the Bermuda Digital Finance Forum on Friday (Photograph by Claire Shefchik)

The focus of a Bermudian geneticist became a part of a discussion on AI systems that a tech journalist said has led to companies building gigantic wealth on the very personal data we often unwittingly surrender online.

This dialogue during the Bermuda Digital Finance Forum was led by Michael Casey, the chairman of the Decentralised AI Society, a longtime tech journalist and the moderator of the session, who urged participants to consider the bigger picture.

“We literally are at a moment where we have to ask questions about the future of humanity,” Mr Casey said.

One such question: How can people keep control of their lives and livelihoods in a world shaped by artificial intelligence?

He pointed to the huge concentration of power in the hands of just a few tech companies, noting that seven of them together hold about $17 trillion in market value.

“That wealth was built on the back of our data,” Mr Casey said. “It’s the greatest theft that humanity has ever seen.”

He said it’s time to rethink the way society assigns value, not just through jobs or labour, but through broader contributions people make in a digital world. “How about your meaning, your value, your contributions?” he asked.

He warned that artificial intelligence systems are becoming central to how we work, live, and interact. Without safeguards, individuals could lose economic and personal control.

But he also said this shift presents an opportunity. “If we solve this right, it doesn’t just protect us. It actually creates this incredibly powerful mechanism for the pursuit of prosperity.”

Mr Casey highlighted the work of Bermudian geneticist Carika Weldon, pointing to the historical lack of diversity in global genomic data, particularly from the African diaspora.

“There’s a gap in the genetic information in the world because the African American diaspora did not contribute as much information to a lot of the genomic research,” he explained.

“We’ve got all these treatments and cures that don’t actually effectively help that population, as they do white and other populations.”

Dr Weldon’s model, which gives individuals control over their genetic data while allowing them to participate in research with full agency, is, according to Mr Casey, an example of how underrepresented populations can “take charge of what they’re getting, whether it is a return of money, or simply the knowledge that they are contributing to a cause they care about.”

He added: “This is showing the value of a diverse population. In the AI world that needs broad information, not narrow, AIs get smarter by being able to own and understand the breadth of everything.”

He drew comparisons to historical moments when expanding rights, like land ownership, opened the door to economic growth and innovation.

“Similarly, giving people more control over their data and digital identity could lead to new models of wealth and value.

The author of six acclaimed books, a podcaster, an entrepreneur, Mr Casey’s Dais brings together companies leading the effort to build artificial intelligence on a decentralised framework.

That effort challenges the centralised internet platforms’ control of data, computational resources and capital for the AI economy.

He is interested in the social, economic and political impact of digital technology and globalisation.

He is shouting from the rooftops that humanity's survival is at stake, and he has an audience.

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Published May 12, 2025 at 8:00 am (Updated May 12, 2025 at 7:33 am)

Casey: the greatest theft humanity has ever seen

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