Artificial Intelligence and Machine learning are reshaping initiatives across key sectors. The breakneck pace at which the field is improving proves that the next generation of AI will be completely transformed. Methods that are currently considered cutting-edge will become outdated and nascent technologies will be more mainstream.
Every month we identify such top trending AI topics and share it with you to get you up to speed. Through today’s blog, we want to draw your attention towards - The Future of AI
So, let’s dive right in.
This article elaborates the need and scope of - two legislative initiatives and draft report consisting recommendations to the European Commission for a framework for AI that the European Parliament has voted in favour of in November 2020.
The three publications focus on:
- the ethical and legal obligations surrounding AI;
- civil liability for damage caused by AI; and
- the creation and protection of intellectual property rights (IPRs) generated by or through AI.
In our opinion, as more and more businesses are adding Machine learning to their toolkit, Ethical questions around AI will steadily increase. The latest developments indicate that there is a dire need for an operational and fully harmonized regulatory framework in the field of AI. A moral and security-driven framework will also open the doors for new markets and increase its regulated adoption in society.
How Artificial Intelligence may be making you buy things? by Jane Wakefield
This article focuses on how businesses are leveraging Artificial Intelligence to predict and influence buyer behaviours based on their purchase patterns. Data collection and profiling of customers, in its true form is justified with boundaries. However, its impact on different sectors of society can be tricky. Read the article further to understand how big retailers are adopting nascent AI technology to improve the buying experiences especially in the post-pandemic world.
In our opinion, data collection and forecasting has been done by humans from the time barter existed and got more structure as our society civilised. AI taking over humans to decode patterns is an unavoidable trend that more companies will adopt in the next 5 years. What has to be kept in mind is that showing constant campaigns to purchase things that users do not need might generate increased sales in the short term, however, can and will be perceived negatively by consumers causing them to drift away. In such scenarios, only businesses keeping the well-being of customers as the core will sustain. This definitely requires answering societal questions before adopting new technology in foresight.
What a Biden-Harris administration means for Artificial Intelligence? by Jonathan Vanian
Although 2020 has been a year of hot topics like Covid-19 pandemic, systemic racism and the US economy itself, the focus on Artificial Intelligence during presidential campaigns was dialled back. However, previous initiatives have shown an emphasis on heavy investments in general scientific research and development for the nation. Biden has also proposed to increase the amount of federal R&D spending to $300 billion over four years. With Kamala having a strong background as a “progressive prosecutor”, we can definitely predict big changes in how AI is being used in the US Federal System.
In our opinion, this is a difficult question and time to make any predictions for the future as there are still a lot of untapped uncertainties. To anticipate what exact disruptions this leadership will cause in the field of Artificial Intelligence and its impact, businesses will have to wait for further communications. Meanwhile, improvements in the way Federal AI is getting executed surely sounds hopeful to introduce unbiased technology that cannot be exploited.
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