It seems like everyone and their mother is trying to jump on the AI bandwagon these days. But while you’re busy chatting about AI at your friend’s backyard barbecue, President Biden is in San Francisco meeting with AI experts to discuss the potential risks and regulations surrounding this buzzy technology.
Generative AI, the belle of the tech ball, has been on everyone’s lips since OpenAI’s ChatGPT made its grand entrance in late 2022. But are we letting the hype distract us from having important conversations about the safety of AI technology?
As Hal Daumé, a University of Maryland professor of computer science, points out, ‘There’s a lot of snake oil out there.’ Essentially, companies are selling the dream of AI rather than focusing on what it can actually do.
Generative AI, which allows users to receive human-like responses from chatbots like ChatGPT, is a prime example of this. And while we’re all busy talking about how cool it is, discussions about its potential harms and ethical implications might be getting pushed to the wayside.
Ai In Our Cereal Boxes And Toothpaste
It’s hard not to notice the AI craze. From emails to investor pitches, AI seems to be the golden ticket for grabbing attention. But as Brian Sozzi, Yahoo Finance executive editor, points out, there’s a glut of companies using AI as a shiny lure to reel in investors.
Erik Brynjolfsson, a senior fellow at Stanford University’s Institute for Human-centered Artificial Intelligence, explains this phenomenon: ‘People who don’t have the real goods will maybe have a little FOMO [fear of missing out] and try to join in the party.’
Take the education sector, for instance. Companies are all too eager to tout their AI-based solutions, but the real question is whether these solutions actually use AI and, if so, whether it’s genuinely beneficial.
The problem with this AI fever is that the constant buzz about AI products might be overshadowing the actual issues that come with the technology.
The Double-edged Sword Of Generative Ai
Generative AI is undoubtedly impressive. It has the potential to revolutionize tasks like web searches, trip planning, and email writing. But it’s this same human-like quality that raises concerns about the technology’s potential for misuse.
For instance, generative AI can also be harnessed to create deepfakes, manipulate images, or spread disinformation. And when it comes to regulation, we’re playing catch-up.
Enter President Biden and his meeting with AI experts. It’s a step in the right direction, but the fact remains that we’re still in the early stages of understanding and addressing the potential risks and ethical implications associated with generative AI.
The Big Winners: Banking, High Tech, And Retail
McKinsey & Company recently released a report projecting that generative AI could produce economic benefits of up to $4.4 trillion. The firm identified three industries that could account for roughly $1.2 trillion of that total: banking, high tech, and retail.
With companies like Bank of America, Microsoft, and Walmart at the forefront of AI adoption, it’s clear that these industries are set to be the major winners in the generative AI game.
But before we get too excited about the potential windfall, let’s not lose sight of the bigger picture. AI is more than just a moneymaker; it’s a technology that comes with real concerns and risks. So while we celebrate the potential benefits, let’s make sure we’re also taking the time to address the challenges and have those crucial conversations about the ethical implications of AI. After all, it’s not just about making a quick buck; it’s about ensuring that AI serves the greater good.
