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Taken literally, in the light of existing applications of ML and their flaws, it sounds like a ridiculous idea. But the most functional countries are those ruled by code, not by human leaders w strong personal power. We call it "laws" and "institutions".https://www.weforum.org/agenda/2019/03/a-surprising-number-of-people-trust-ai-to-make-better-policy-decisions-than-politicians …
Having formal decision systems (i.e. AI), that are transparent, possibly interpreted by humans, frequently patched, may be the future of governance. We've been using a rather immature version of this very system for judicial decisions. Extending it to economic policy isn't crazy.
Replacing personal human power with formal rules that are known to all and for which there is an update mechanism meant to represent the will of the people is the essence of the rule of law. And the rule of law is the better government system so far. AI is just an extension.
Legal code is text-driven (adaptive), computer code would be over- and under- inclusive, because of the formalisation that is required (also in ML), seehttp://www.cohubicol.com
AI doesn't have to be executed on a computer to be AI. As I mentioned, human-interpreted code is fine -- it just needs to have a reasonable level of formalism (like law does).
The idea of independent central banks with clear objectives and operating guidelines, as implemented in most western countries, is arguably a first step towards formalized computational economic policy.
A "formal decision systems (i.e. AI), that are transparent, possibly interpreted by humans, frequently patched"... that wouldn't be "ML", let alone "AI" - but more likely "if, then" blocks. Altho it wouldn't make press titles "IF THEN blocks rule instead of Govts".
One of my favorite animes pondered on this exact issue: what if an AI measured and scored our "sanity"? The level of the "Psycho-pass" thus evaluated, will lead you in or out of jail!
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