Artificial intelligence (AI) is the theory and practice of creating computer systems that can carry out routine tasks without human involvement but still require human intelligence for tasks like speech recognition, visual perception, decision-making, and language translation. The term for it is human simulation. A machine’s intelligence is used to make it act or think like a human.It’s an interdisciplinary competence with numerous perspectives. Today the event of Artificial Intelligence is creating a progressive shift within the division of the tech industry.
Artificial Intelligence
AI is one of the technologies that is developing the fastest and has the most amazing benefits. However, many business leaders and tech enthusiasts still see AI as a major threat to humanity and want to know more about its downsides. Tesla, and SpaceX Chief executive Elon Musk and other signatories expressed their concern about the intense consequences of Artificial Intelligence. They think that digital machines with the involvement of AI will rapidly outplay humans. Elon Musk calls AI the foremost dangerous threat for humanity. He says he’s not against digital transformation in general, but when it comes to AI, he has a very different opinion. He also says he’s worried about how AI is getting better.
Some of the major risks surrounding the advancement of Artificial Intelligence without proper oversight
Includes;
- Automation-spurred job loss
- Privacy violation
- Deepfake
- Algorithm bias caused by bad data
- Socioeconomic inequality
- Market Volatility
- Weapons atomization
1. Automation-spurred Job Loss
the new automation will eliminate uncountable jobs for vehicle drivers and retail workers, likewise those for health care workers, lawyers, accountants, finance specialists, and plenty of other professionals.
By 2023, the whole task hours completed by humans will drop by at least 13%. Robots could take over 20 million manufacturing jobs by 2030. Generation Z is at the very best risk of being displaced because of automation. This could potentially affect college graduates and professionals rather more than within the past.
Elon Musk considers AI the scariest problem. He had regularly cautioned that AI will rapidly become as clever as humans and once it does, humankind’s existence is going to be at stake. Since he has experience working with AI so he knows what he’s saying and has confidence in it. He also mentioned the time-frame which isn’t over 5 years. when AI will take over the globe and things would get weird and unstable. Musk claims AI will outsmart humanity and overtake human civilization in five years and also that AI and robots will take over everyone’s jobs and can do everything better than us.
2. Privacy Violation
Some of the privacy violations include; Data persistence: Data existing longer than the human subjects that created it, driven by low data storage costs. Another one is Data spillovers: data collected on folks that don’t seem to be the target of information collection. The vast data that companies feed into AI-driven algorithms are liable to data breaches yet. Artificial Intelligence can generate personal data that has already been created without the permission of the individual. Similarly, face recognition tools are additionally invading our privacy.
3. DeepFake
The audio and video deepfakes, created by manipulating voices and likenesses, like what we are witnessing today of TikTok and other media platforms. It is possible to alter an audio recording of a person in a way that makes it appear as though they spoke something different even though they didn’t say those words at all by using a section of AI that deals with natural language processing.
4. Algorithmic Bias Caused Bad Data
It is possible for this situation to occur when data findings cannot be widely applied. While many people believe that bias arises from preferences or exclusion in training data, it can also arise from data collection methods, algorithm design, and AI input interpretation.
5. Socioeconomic Inequality
The reliance of AI on big data has led to concerns that monopolistic access to data disproportionately increases market power. If that’s correct, then, over time, firms that acquire particularly large amounts of information will capture monopoly profits at the expense of consumers, workers, and other firms. Along with education, work has always been a driver of social mobility.
6. Market Violatility
Artificial Intelligence systems can train on market data so develop a model to detect potentially illicit activity. AI systems can greatly enhance market surveillance with “always on” capability, speed, and models which will improve over time. AI is significantly shaping the long run of stock trading, it’ll still make trading profitable within the coming years. Rabo-advisers, as an example, are automated systems that analyse millions of data points in as little time as possible and forecast prices.
7. Weapons Automatization
Major advances in AI technology in recent years have led to the growing sophistication of military weaponry. Among the note worthy new devices are Lethal Autonomous Weapon Systems (L.A.W.S.): machines engineered to spot, engage and destroy targets without human control. Elon Musk said we need to be super careful with AI as they are potentially more dangerous than nuclear weapons.
According to Elon Musk, teaching a self-driving car to recognize exceptional circumstances, such as identifying a bag carried away by the wind on a congested road or predicting the motion of an object, is difficult. Machine learning cannot adequately prepare a robot for situations like these.
He also added that robust Artificial Intelligence systems may be a more significant mistake that may lead to threatening conditions for humanity. Elon Musk thinks that better rules and a management system should go along with the development of AI technology. Even for his own company, Tesla, he wants to implement structure and control.
According to him, AI is the real existential risk to humankind and other people and asked governments to require preventive and proactive governmental steps before it gets too late.
Elon Musk wants the technologies to be developed responsibly and with proper vision and oversight. He wants the governments to create teams and supervise projects involving AI. He also said if there are situations where the governments can’t then he’s more than able to take the charge by himself.
Within the past few years, Elon has spent enormous resources on tech industries that are chargeable for the development of intelligent machinery. He is contemplating advancements in technology that could potentially prevent an AI disaster from occurring.
NOTE:
The information provided in this article is solely my opinion as a writer and not investment advice. It is provided solely for educational purposes only.
The following information does not constitute any investment or financial instructions and do conduct your own research and reach out to financial advisors before making any investment decisions.
