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Are We Pinning Too Much Hopes On AI?

Are We Pinning Too Much Hopes On AI?

Despite known glitches and fatal mishaps, industries somehow remain optimistic or resigned to the fact since dollars are pumped into AI research and development, the show has to go on.

Artificial Intelligence (AI) is probably the world’s most overrated concept now. From medical devices to metalworking equipment, AI has a stake in every pie.

The world has been on tenterhooks on which jobs would be taken over by AI. BBC quoted a report by investment bank Goldman Sachs suggested that AI could replace the equivalent of 300 million full-time jobs across the globe. It concluded many administrative, legal, architecture, and management roles could be affected.

The emergence of AI is hitting the global labour force “like a tsunami” according to International Monetary Fund (IMF) Managing Director Kristalina Georgieva. AI is likely to impact 60% of jobs in advanced economies and 40% of jobs around the world, Georgieva remarked recently at an event in Zurich organised by the Swiss Institute of International Studies. 

“We have very little time to get people ready for it, businesses ready for it, it could bring tremendous increase in productivity if we manage it well, but it can also lead to more misinformation and, of course, more inequality in our society,” Georgieva reiterated.

Ongoing Challenges

While we accept Machine Learning (ML) and AI has become part of our lives, we need to recognise it is still undergoing training. Asking a software to make smart decisions in any situation requires astronomical graphic processors and capital — which may take years before we get there. It is very hard to recreate a program to be human-like will be a big challenge even for the most sophisticated AI engineers.

General Motors’ Cruise, best known for its autonomous driving technology is back on the roads. It earlier suspended operations after hitting a pedestrian in San Francisco.

This time, when Cruise resumes operating, there will be a “safety driver” at the wheel — a safety precaution in case of emergency. Cruise reportedly said it updated its software to better respond to such incidents in the future. Cruise’s Chief Executive and other executives also resigned and the company laid off nearly a quarter of its workforce in the weeks after the accident. 

BBC added Cruise’s own investigation, commissioned through the law firm of Quinn Emanuel Urquhart & Sullivan, cited a number of faults with Cruise including an “us versus them” attitude toward regulators, and a “myopic focus” on avoiding blame in the incident.

“We acknowledge that we have failed to live up to the justifiable expectations of regulators and the communities we serve,” Cruise wrote in its blog post on the report at the time. “In doing so, we also fell woefully short of our own expectations.”

Growing Pains

AI’s entry into automotive, aviation, and the latest in dating apps. Bumble’s founder, Whitney Wolfe Herd — who recently stepped down as CEO — recently addressed how the dating app will utilise artificial intelligence while appearing at The Bloomberg Technology Summit, the New York Post reported. Herd added the app will use the advanced technology to help swiping singles narrow down their matches and not just improve people’s flirting, but also do it for them.

“There is a world where your dating concierge could go and date for you, with another dating concierge… You don’t have to talk to 600 people. It will go scan all of San Francisco for you and say, ‘These are the three people you really ought to meet.’ That’s the power of AI when harnessed the right way,” Wolfe Herd said according to The Independent

This new feature could help the wave of singletons reporting dating fatigue who have become exhausted by the disposable dating culture of seemingly endless matches. As AI continues to integrate into diverse sectors, from transportation to personal relationships, its potential to transform our daily lives becomes increasingly evident.

While the journey towards seamless and sophisticated AI applications is ongoing, the advancements showcased by leaders like Whitney Wolfe Herd illustrate the promising future ahead. We are on the cusp of a new era where technology not only augments our abilities but also reshapes our interactions and connections. However, we cannot afford to forget being vigilant in the event of the unexpected.




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