Bergur Thormundsson
Research expert covering technology in the Nordics, AI and smart cities
Get in touch with us nowRamifications to world equality
AI systems can replicate and amplify human biases, further conflating discriminatory issues and reinforcing social inequalities. This can further cement the growing inequality trend across the globe, with ever more capital being concentrated in fewer hands. This is particularly risky for developing economies, as they will struggle to reap the same benefits as advanced economies might from the AI revolution. Generative AI, a rapidly developing field of AI in 2024, is likely to further exacerbate this issue considerably. Economic power is therefore even more likely to become centralized and isolated to fewer entities, whether governmental or business-like. Already concerns are arising with the influence of AI in the democratic process and the electoral cycle, with disinformation running rampant online.Businesses challenged in a growing market
The AI market is immense and far-reaching, being used throughout nearly the entirety of human industries. Adaptation of AI programs to improve and enhance businesses can be found in everything from product creation to supply chain management. A growing AI market and its reach across industries further compounds the ethical concerns of AI usage. Its adoption and use is expected to increase in the coming years, with nearly 75 percent of companies using AI in some capacity.Vital to tread carefully
All told, it is important that those enterprises and countries seeing the largest influx of AI-powered technologies in their society take note, and care, in how they are implemented. Done right, it can be a tremendous boon to the world economy, but done poorly, cause undue hardship in the everyday life of millions of people.
