In the world of lending, algorithm-driven decisions do have a potential “dark side,” Mills said. As machines learn from data sets is depreciation expense an operating expense they’re fed, chances are “pretty high” they may replicate many of the banking industry’s past failings that resulted in systematic disparate treatment of African Americans and other marginalized consumers. Panic over AI suddenly injecting bias into everyday life en masse is overstated, says Fuller. First, the business world and the workplace, rife with human decision-making, have always been riddled with “all sorts” of biases that prevent people from making deals or landing contracts and jobs.

“What we’re going to see is jobs that require human interaction, empathy, that require applying judgment to what the machine is creating will have robustness,” he said. The biggest and most obvious drawback of implementing AI is that its development can be extremely costly. One estimate says that the cost for a fully implemented AI solution for most businesses ranged from $20,000 to well in the millions. Artificial Intelligence is a branch of computer science dedicated to creating computers and programs that can replicate human thinking.

Job Displacement

With their low diversity, they weave their cultural blind spots and unconscious biases into the DNA of technology. Companies that lack diversity therefore risk developing products that exclude their customers. Four years ago, a study found that some facial recognition programs incorrectly classify less than 1 percent of light-skinned men but more than one-third of dark-skinned women. The producers claimed that the program is proficient, but the data set they used to assess performance was more than 77 percent male and more than 83 percent white. Make no mistake, there are AI tools that are affordable for every business. But many of the most advanced systems or custom machine learning models can cost a large amount of money to implement or develop.

Given its power and expected ubiquity, some argue that the use of AI should be tightly regulated. But there’s little consensus on how that should be done and who should make the rules. Though automation is here to stay, the elimination of entire job categories, the formula for net sales in a restaurant like highway toll-takers who were replaced by sensors because of AI’s proliferation, is not likely, according to Fuller. It’s important for businesses to know the disadvantages inherent in using AI, however it is equally as important to move forward with utilizing AI.

Help Liberties stand up to Tech Giants and Big Brother governments

The problem is that these algorithms are influenced by arrest rates, which disproportionately impact Black communities. Police departments then double down on these communities, leading to over-policing and questions over whether self-proclaimed democracies can resist turning AI into an authoritarian weapon. Social manipulation also stands as a danger of artificial intelligence.

1. Instead, companies use AI to provide better, more profitable consumer experiences that end up serving you.
2. You just need to understand that AI is different than other technology because of its capacity to learn and improve over time.
3. AI technologies often collect and analyze large amounts of personal data, raising issues related to data privacy and security.
4. While there's no doubt AI is going to transform the economy, it still has limits and specific use cases.
5. AI technology is forecast to have trillions of dollars in economic impact—and there's a reason for that.

Biased and discriminatory algorithms

That could stymie their ability to truly master a profession or trade. It could also leave them without the necessary capabilities to step in and perform the work should the AI fail. The technology can be trained to recognize normal and/or expected machine operations and human behavior. It can detect and flag operations and behaviors that fall outside what kind of company or business would use the single desired parameters and indicate risk or danger. Such AI use has improved safety records in multiple industries and scenarios.

How to Mitigate the Risks of AI

We're determined to keep championing your civil liberties, will you stand with us? Like you, we're angry our human rights are sacrificed so Big Tech corporations can maximize their profits. For AI, that decision will be a logical one based on what the algorithm has been programmed to do in an emergency situation. It’s easy to see how this can become a very challenging problem to address. In turn though, it makes it very difficult to incorporate areas such as ethics and morality into the algorithm. The output of the algorithm is only as good as the parameters which its creators set, meaning there is room for potential bias within the AI itself.