Artificial Intelligence is bound to popularize itself in every realm of our lifestyles, but AI has been hyped up to make us believe that it is the holy grail of all technologies, and this hype has been slowly muting as it has not been delivering all the wonderful results we hoped for. In essence, the greatest contributor to the pragmatic use of AI has been the development of computers with faster processing power and large amounts of memory storage. However, although there have been advances in AI algorithms in this last decade, we can’t seem to attain, just yet, the pinnacle of AI, which is AI with the capability for general intelligence. It will be a long time ahead before AI assumes general intelligence. At present, we have to content ourselves with narrow AI, which is AI used in one specific task, which undermines the promises of all that AI can deliver.
Although artificial intelligence can bring immense benefits to society, such as improved well-being, increased productivity, better educational systems, and better health care, the negative effects on society are also important to consider as they can create a more divided and dystopia world.
Artificial intelligence should be applied to create a more inclusive and human-centric society. Unfortunately, this is not what is happening in our current applications and use of AI in all sectors of society. The present shows a bleak outcome of AI usage where large corporations exploit and manipulate consumers through targeted consumption, and totalitarian regimes take advantage of this technology to control their citizens.
AI will contribute to mass job losses. Although new jobs will be created that do not exist today, the job loss will still be considerable due to the fast pace of technological evolution and not giving workers enough time to adapt and re-skill. As humans, we could become too dependent on AI to decide for us making us less cognitive adapt and losing our creative abilities. We could see AI being accessed more by the wealthier and dividing the rich-poor paradigm in the world even further. Humans are social beings but becoming too dependent on AI and digital technologies could make us lose our ability to communicate effectively and become socially inept. Furthermore, there are not many initiatives at present by governments to regulate it to prevent the risks of using artificial intelligence irresponsibly.
Artificial intelligence(AI) 101 for Entrepreneurs(Opens in a new browser tab)
We have to shift our thinking and use artificial intelligence wisely and quickly. In generalized terms, we have to use AI in a democratized manner to benefit everyone and have enough regulation to avoid the risks of its misuse. We have to view AI from a stakeholder perspective rather than a shareholder perspective.