Given the rapid pace of these advancements, let’s explore how shifts in AI could reshape various industries and society as a whole.
The Progression of AI
AI’s journey has been remarkable since 1951, when Christopher Strachey crafted the first successful AI computer program. His checkers program completed an entire game on the Ferranti Mark I computer at the University of Manchester. The evolution of AI continued, with IBM’s Deep Blue defeating chess grandmaster Garry Kasparov in 1997 and IBM Watson triumphing in Jeopardy! in 2011.
Generative AI has spearheaded the latest chapter in this evolution, with OpenAI releasing its inaugural GPT models in 2018. This development culminated in the creation of OpenAI’s GPT-4 model and ChatGPT, leading to a proliferation of AI generators capable of processing queries to produce relevant text, audio, images, and other types of content.
AI has also played a crucial role in sequencing RNA for vaccines and modeling human speech—technologies that rely on model- and algorithm-based machine learning, with an increasing focus on perception, reasoning, and generalization.
The Future Impact of AI
Enhanced Business Automation
Approximately 55% of organizations have embraced AI to varying extents, indicating a surge in automation for many businesses in the near future. The rise of chatbots and digital assistants allows companies to leverage AI to handle basic customer interactions and address simple employee inquiries.
AI’s capacity to analyze vast amounts of data and convert its findings into intuitive visual formats can also expedite decision-making processes. Business leaders no longer need to sift through data themselves, as instant insights enable them to make informed choices.
Mike Mendelson, a learner experience designer for NVIDIA, notes, “If developers understand what the technology is capable of and they have a deep understanding of their domain, they begin to see connections and think, ‘Maybe this is an AI problem, maybe that’s an AI problem,’ more often than having a specific problem to solve.”
Job Disruption
The rise of business automation has naturally sparked concerns about job displacement. Employees believe that nearly a third of their tasks could be automated by AI. While AI has made significant inroads into the workplace, its impact has been uneven across industries and professions. For example, manual jobs such as secretarial positions are at risk of automation, while the demand for roles like machine learning specialists and information security analysts has increased.
Workers in more skilled or creative roles are more likely to have their jobs augmented by AI rather than replaced. Whether forcing employees to learn new tools or taking over their roles, AI is expected to drive upskilling efforts at both individual and organizational levels.
Klara Nahrstedt, a computer science professor at the University of Illinois at Urbana-Champaign and director of the school’s Coordinated Science Laboratory, emphasizes, “One of the essential prerequisites for AI to be successful in many areas is significant investment in education to retrain people for new roles.”
Data Privacy Concerns
Organizations require vast amounts of data to train the models that power generative AI tools, a process that has come under intense scrutiny. Concerns about companies collecting consumers’ personal data have led the FTC to investigate whether OpenAI’s data collection practices have harmed consumers, especially in light of potential violations of European data protection laws.
In response, the Biden-Harris administration introduced an AI Bill of Rights, which lists data privacy as one of its core principles. Although this legislation lacks significant legal weight, it reflects the growing emphasis on data privacy and compels AI companies to be more transparent and cautious about how they compile training data.
Increased Regulation
AI could reshape legal perspectives depending on how generative AI lawsuits unfold in 2024. Intellectual property issues have come to the forefront due to copyright lawsuits filed against OpenAI by writers, musicians, and companies such as The New York Times. These lawsuits could influence how the U.S. legal system interprets private and public property, with potential setbacks for OpenAI and its competitors if they lose.
Ethical concerns related to generative AI have prompted increased pressure on the U.S. government to take a stronger stance. The Biden-Harris administration has maintained a moderate position with its latest executive order, establishing rough guidelines on data privacy, civil liberties, responsible AI, and other aspects of AI. However, the government could lean toward stricter regulations if the political climate shifts.
Climate Change Implications
On a broader scale, AI is poised to have a significant impact on sustainability, climate change, and environmental issues. Optimists view AI as a tool to enhance supply chain efficiency, carrying out predictive maintenance and other procedures to reduce carbon emissions.
Conversely, AI could be seen as a major contributor to climate change. The energy and resources required to create and maintain AI models could increase carbon emissions by up to 80%, undermining any sustainability efforts within the tech industry. Even if AI is applied to climate-conscious technology, the costs of building and training models could leave society in a worse environmental situation than before.
Industries Most Affected by AI
AI has already made its mark on virtually every major industry. Here are a few sectors undergoing the most significant changes due to AI.
AI in Manufacturing
Manufacturing has been reaping the benefits of AI for years. AI-enabled robotic arms and other manufacturing bots have been around since the 1960s and 1970s, and the industry has adapted well to AI’s capabilities. These industrial robots typically work alongside humans to perform a limited range of tasks, such as assembly and stacking, while predictive analysis sensors keep equipment running smoothly.
AI in Healthcare
Although it may seem unlikely, AI is already transforming the way humans interact with healthcare providers. With its big data analysis capabilities, AI helps identify diseases more quickly and accurately, speeds up drug discovery, and even monitors patients through virtual nursing assistants.
AI in Finance
Banks, insurers, and financial institutions leverage AI for various applications, including fraud detection, audits, and customer loan evaluations. Traders also use machine learning’s ability to assess millions of data points simultaneously, allowing them to quickly gauge risk and make informed investment decisions.
AI in Education
AI is set to revolutionize how people of all ages learn. AI’s use of machine learning, natural language processing, and facial recognition helps digitize textbooks, detect plagiarism, and gauge students’ emotions to determine who is struggling or disengaged. Both now and in the future, AI tailors the learning experience to individual student needs.
AI in Media
Journalism is harnessing AI and will continue to benefit from it. One example is The Associated Press’s use of Automated Insights, which generates thousands of earnings reports annually. However, the rise of generative AI writing tools, such as ChatGPT, raises questions about their use in journalism.
AI in Customer Service
While most people dread robocalls, AI in customer service can provide the industry with data-driven tools that bring meaningful insights to both customers and providers. AI tools powering the customer service industry include chatbots and virtual assistants.
AI in Transportation
The transportation industry is poised for significant change due to AI. Self-driving cars and AI travel planners are just two examples of how AI will influence how we travel from one place to another. Although autonomous vehicles are still far from perfect, they may one day become a common mode of transportation.