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Artificial intelligence has begun to assert its omnipotence. Once merely a tool for help, it now appears to be a standalone industry. Users have the power to use AI and keep it as a collaborative source. But the trend has seen a rapid shift. Now AI can be witnessed persuading the mind of the user and positioning itself as a master.
Skills cannot be replaced. Artificial intelligence has always worked in union with skilled users to analyse their environment and work for productivity. Economic growth is a huge advantage of AI. With efficiency and faster processing, Organizations have adapted to machine learning. It is now commonly used to apply the acquired knowledge for profit generation.
Users have shifted from being active users to becoming passive consumers of this industry. The loss of purpose for the workforce has resulted in machine intelligence replacing human intelligence. Artificial intelligence has been used in industries like technology, research and health for ages. Its current dependency on the corporate sector, educational institutions and Social media platforms has created a wave of concern.
The artificial intelligence Industry is projected to be over $600 Billion (Fortune Business Insights, 2023). As users have increased their dependency on Artificial intelligence, their sensitive data is at high risk of being misused. Cyber security and slash in the labour market have alerted users of the upcoming high risks of Artificial Intelligence.
Global conglomerates are all adopting Artificial intelligence in their business operations. With almost 50% of the AI market share, North America is the top consumer of Artificial intelligence. This growing influence of dependency on Artificial intelligence is ever-growing. The industry is about to touch trillions in valuation in the coming decade. International organizations are using Artificial intelligence as hardware, services or software platforms.
Industries like retail, telecom, media and many others have adopted AI for their product development, human resource, service operations and management for years. Microsoft Corporation, Amazon, and Apple are top players in the market benefitting from the use of AI. Organisational issues like data overload, efficiency and consumer research are strategically completed by AI.
Artificial Intelligence is based on synthetic data. It can be trained and used for specified uses depending upon the needs of the industry. Faster insights and personalized processes are the top benefits of AI. Companies supporting a large customer base get well maintained by AI using its Chabot and virtual assistants. Revenue growth is a direct advantage of introducing AI to organisational workings. An expected 10% revenue increase is seen in organizations adopting Artificial Intelligence for their services (Cam, Chui and Hall, 2019).
Companies motivated by changing their work to inculcate AI have explored the ability to work better with fewer resources. Reduced workforce expenses, faster working and increased profits have started a trend of human workforce layoffs (PwC, 2023). Skilled staffs that can adopt AI and combine their knowledge and skills are preferred. Workers who depend upon training to adopt innovations are replaced.
Many global titans have started to move forward with the idea of replacing staff with AI. Since Artificial Intelligence software has been accomplished to reduce the workload companies are replacing them to work independently. More than 150,000 layoffs were noted among the top 542 companies.
Ethical Concerns Surrounding Artificial Intelligence
Artificial Intelligence is a wide concept that has information from diverse platforms. It is a machine learning system that makes their searches after going through many websites and their searches. With millions of users of AI, only a few understand the concerns that surround the privacy of the data of the user.
Privacy Concerns
Every data which you have put on your electronic devices is traceable. Online AI systems can collect and store your data to make your future services personalized. Without proper protection of the data from these applications, a data breach is very likely. Records of personal information and other transactions if targeted by cybercriminals can lead to risk of data theft crimes and privacy risks.
Social media platforms like WhatsApp have been under question for scraping user data and sharing with Facebook (Rewaria, 2021). This data is used for behavioral advertisements and sold for manipulating behavior purchasing with advertising.
Biased Results
Since Artificial Intelligence derives its answers from online sources, the data can be manipulated easily. Historical data online can create vague data with higher error rates affecting the actual current facts and figures. Biased data can be flawed and discriminating. This is why it is highly suggested to confirm all the information via reliable resources to not fall prey to the algorithmic data results.
Amazon was under question for their recruiting system which was initially made to select top talent. It was discovered that the system was downgrading CV’s of women for technical job openings. (Iriondo, 2018) AI was struck in an algorithm that was not gender neutral but had male-dominated bias due to almost 10 years old male tested resumes.
Security Risk
Every online technology is highly monitored and tracked. They pose a risk of being surveillance for navigating the users. There is a very thin line between safeguarding search histories and extracting data of users which can cause ethical issues. AI-driven applications use user data without transparency of consent. It poses a risk to the right of privacy of the user and illegal surveillance.
Artificial intelligence has had a global transformation leading to a significant positive impact in global industries. AI adoption increased productivity and boosted economic development across different platforms. A projected contribution from the AI industry has been estimated around $19 trillion by the year 2030. Sectors like Banking and finances have anticipated $170 billion in profit with AI adoptions in the upcoming five years. Bughin (2018) People with skilled jobs will flourish and those with low-skilled jobs might face job stagnation.
The labour market had a contrasting impact with layoffs and displacements. Though many jobs were reduced, new opportunities have also been created in AI development industries. Wages are expected to be pushed down, shrinking the tax base (Szczepański, 2019). A boost of 40% can be seen in Labour productivity due to the introduction of innovative technologies.
Artificial intelligence is influencing the social structures and behavior of users day by day. If AI is fed data that is vague it will generate vague answers for the next user. It will increase the chances of misinformation and data positioning. Hallucination in AI is a serious issue for the future. (Gautam, 2024) Unreliable data placed for users to consume will generate unexpected results that are not desirable.
AI will affect the decision-making capacity of the human race resulting in reduced independence of thoughts. Social unrest will increase with people fearing for their future. Ethical constraints on AI are required to balance the societal biases that are baked into the generated results (Capraro et al., 2024).
A rise in social awareness for AI is essential to reduce people's perceptions of the results and accept only credible results. Artificial Intelligence is created so advanced human intervention is required to condition the software to be beneficial with the least inaccuracies for societal trust in systems.
In the Age of Artificial Intelligence, there has been unpredictable industrial reshaping. Business operations have adopted AI for their improved efficiency and economic boost. With technological advancements comes an adverse consequence which cannot be ignored. The industry is facing a substantial employment uncertainty. Replacement of workforce with AI technology have impacted the hiring’s causing job displacement for both skilled and unskilled laborers.
This dual nature of Artificial Intelligence has also put users in an ethical dilemma over their data privacy. Ethical dilemmas which surround use of AI are serious. With increasing dependence on AI, claims like biased results and security breaches are critical issues. Guidelines to keep the working as transparent and up skilling are highly in demand. To unlock the true potential to change the world for great advancements, Artificial Intelligence and human skills need to work harmoniously.
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