Future of Artifical Intelligence
Author: Smeet Ajmera
MMS-Roll no: 66
Kohinoor Business School
Literature Review
Smart Contracts, AI, and the Future of Asset Valuation
Jun Dai, et al.(2022)What are smart contracts, and how might they be used in conjunction with artificial intelligence to resolve disputes between taxpayers and the IRS on asset valuation?
Smart contracts are computer programme created to carry out specific activities automatically in response to predetermined actions and triggers. They are appealing compared to conventional contracts since they are self-executing and self-contained. A vending machine is a type of smart contract that begins when coins or bills are inserted and ends when the product is released.
A subset of technology known as artificial intelligence (AI) is capable of carrying out a variety of tasks without the assistance of a human. AI can deliver outcomes in asset appraisal more rapidly and correctly than humans, and at little or no expense
Smart contracts and AI can be used in conjunction to settle disagreements over asset valuation between taxpayers and the IRS. Taxpayers and the IRS may enter into a smart contract for the purpose of valuing assets. AI would be employed for asset appraisal, and the contract’s terms would be standard and self-executing. The contract would be managed by a blockchain, guaranteeing its security and integrity.
By enabling quicker, more precise, and less contentious asset appraisals, this method might possibly revolutionise the tax and accounting fields and eliminate the need for disputes between rival experts over the accuracy of the asset valuation.
5 Ways to Future-Proof Your Career in the Age of AI
Clark, Dorie, et al. (2023).The work market is evolving quickly in the AI era, therefore it’s critical to future-proof your career by learning complementary skills. Focusing on acquiring abilities that are specifically human and difficult for AI to replicate, such as creativity, emotional intelligence, critical thinking, and problem-solving, is one way to do this.
In addition, adopting continual learning is crucial for being relevant in a job market that is constantly changing. This entails remaining current with emerging technologies and trends in your industry and being eager to learn new things and adjust to changing circumstances.
In the era of AI, having a growth mentality is also essential for professional success. This entails being receptive to criticism, constantly looking for ways to improve, and considering obstacles and setbacks as opportunities to learn and advance.It’s crucial to establish and maintain a strong professional network since it can lead to chances and connections that are beneficial. This can be accomplished via networking with professionals in your sector and participating in online communities and industry events.Finally, maintaining flexibility and adaptability in the face of change is crucial. To be relevant in the age of AI, this entails being prepared to switch to new positions or industries, building resilience, and taking cautious risks.
Predicting the contribution of artificial intelligence to unemployment rates
Mutascu, et al.(2023)Artificial intelligence’s (AI) possible effects on employment are a hotly contested
subject. Although AI has the potential to automate some occupations and processes, it can also enhance productivity and open up new work opportunities.
Manufacturing, transportation, and customer service are three sectors where AI is anticipated to have a greater than average impact. These sectors may experience a loss in employment prospects as a result of automation. However, there may be a rise in demand for qualified personnel who can collaborate with AI systems in other sectors, like healthcare, education, and the creative industries.
It is challenging to forecast the precise effect of AI on unemployment rates because it will depend on a number of variables, including the rate of technical development, governmental regulations, and the workforce’s capacity for embracing new technology. In order to ensure that workers can compete in the labour market, it is crucial for policymakers and businesses to invest in education and training programmes in advance of any potential workforce disruptions.
AI can be a boon to us all
Regional Business News (2018). Although the possibility of AI replacing human labour is a worry, its advantages should not be disregarded. Humans can concentrate on more interesting work since AI can handle boring and repetitive duties. While change may be frightening, we must be ready for it by spending money on training and education to provide the workforce new skills. AI has the potential to increase productivity and open up new job opportunities, resulting in a more prosperous society with careful planning. The rise of AI should not be feared, but rather welcomed and used to its fullest potential.
Will AI Destroy Education?
Vardi, Moshe Y.(2022).The author discusses the current trend of AI-augmented learning in education and raises concerns about its potential drawbacks. They argue that while AI can be beneficial in education, we need to have a clear understanding of its benefits and limitations, and what problems we are trying to solve with it. The author also questions the motives behind the push for AI in education, whether it is driven by societal need, technology, or money, and whether it is ethical to deploy AI without a clear understanding of its benefits. The author cites the example of MOOCs as a cautionary tale of how technology in education can be oversold and underdeliver on educational value. Ultimately, the author suggests that technology should be used to respond to a well-understood problem, rather than as a “shiny hammer in search of nails.”
Elon Musk Is Bringing the Culture Wars to AI
Perrigo, Billy 2023.According to reports, Elon Musk has been courting AI experts with a plan to found a competitor AI business to OpenAI, which created ChatGPT. Musk has criticised OpenAI for its “Woke AI” capabilities, which are meant to stop the chatbot from repeating bigotry and misogyny. Musk, though, has mixed up AI’s issue with veracity with internal initiatives at AI firms to make their language models less sexist and racist. The idea that racism and sexism are desirable traits in AI is spreading in right-wing online communities, boosted by Elon Musk, with efforts to remove those biases viewed as yet another kind of “censorship” by powerful liberal forces. Some AI researchers are concerned that by using vocabulary from the culture wars on social media to discuss AI, Musk might wind up changing a field’s dynamics where cooperation is essential.
ChatGPT vs. Bing vs. Bard: Which AI is best?
HACHMAN, MARK (2023). Bing is a search engine created by Microsoft that indexes web pages and enables users to search for specific information, whereas I am an AI language model that is supposed to produce natural language responses to a variety of inquiries. EleutherAI created the Bard AI language model, which has similar language processing abilities to myself.It is challenging to choose the finest AI because it ultimately depends on the task at hand and the user’s particular needs. For instance, Bing would probably be the best choice if a user needed to conduct an internet search for information. However, ChatGPT or Bard would be better options if the user needs to produce human-like answers to particular questions.
Creativity should be protected. Even if AI helped the process
Edward Lee (2023). According to a recent decision by the U.S. Copyright Office, photographs produced by artificial intelligence (AI) do not meet the criteria for “human authorship” and are therefore ineligible for copyright protection. New guideline from the office mandates that all registrants declare any AI-generated content in their works and remove it from copyright protection. But the author of this opinion piece contends that the Copyright Office’s approach is incorrect in its understanding of authorship, disregards the objective of advancing development, and is incorrect in its understanding of the creative process. The Supreme Court has never established a strict standard of control or predictability in order to be considered an author. While a thin copyright should be sufficient to guard against verbatim copying, the distinction between a thin copyright and no copyright at all should not be underestimated. If the courts adopt the Copyright Office’s strategy, it might be difficult for American media, businesses, and artists to employ ChatGPT and AI since they would have to choose between using AI and obtaining copyright.
Man vs. Machine
Mehmet, Michael, et al. (2023). Project Debater, an IBM artificial intelligence debating system, barely lost a 25-minute argument against world-renowned human debater Harish Natarajan at the company’s Think conference in San Francisco. Both participants received the identical topic—subsidizing pre-school education—and had 15 minutes to prepare a four-minute speech, a four-minute rebuttal, and a two-minute summary. Even though Natarajan was crowned the victor, the audience felt that Project Debater had improved their level of education. The competition was the most recent man-versus-machine test, following Watson’s triumph against two Jeopardy! champions in 2011 and IBM’s computer system’s defeat of chess expert Garry Kasparov in 1996. The ultimate goal of Project Debater, according to Noam Slonim, who came up with the concept, is to broaden the human intellect and foster critical thinking abilities.
A Group Backed by Google and Microsoft Wants to Improve AI Education in Low-Income Schools
Bass, Dina (2023).The AI Education Project (aiEDU) is a nonprofit organisation supported by businesses like Google, Microsoft, and OpenAI that intends to give school districts free AI education resources and teacher training. The emphasis is on underserved areas and students, especially those who are most at risk for job loss due to automation and a skills gap brought on by AI. The group wants to educate children about artificial intelligence (AI), its potential and limitations, and help them get ready for careers requiring AI. They represent over a million low-income and underprivileged children across the US by working with Educational Service Centres and public school districts in various states. Although aiEDU has now enrolled 100,000 students, the group needs more funds to develop its programme because to the sharp rise in interest in generative AI. Students should be prepared for employment that may demand or prefer familiarity with AI programmes, according to aiEDU.
Conclusion
AI has a bright future and will continue to influence how we live in society. The creation of increasingly complex neural networks and algorithms as a result of technological advancements has enhanced the accuracy, speed, and efficiency of AI systems.
The future of AI will be influenced by a number of variables. The development of more potent machine learning algorithms will be made possible by the rising availability of data, which is one of the most important elements. This, along with improvements in processing speed and cloud computing, will allow AI to handle more challenging tasks. The growing adoption of AI in daily life is another significant reason. Consumers will embrace and expect AI to become more commonplace as it does. New applications and use cases, such as those in healthcare, transportation, and entertainment, will be stimulated by this.However, there will be difficulties in the development of AI. The ethical ramifications of AI, particularly in relation to privacy, bias, and job displacement, provide one of the major difficulties. As AI develops in strength, it will be more crucial than ever to make sure technology is applied in a way that benefits society as a whole.
In conclusion, AI has a promising future and has the potential to significantly improve our quality of life in a variety of ways. However, it is crucial that we keep in mind the ethical implications of AI and make efforts to guarantee that it is created and applied in a responsible and advantageous manner.
References
AI can be a boon to us all. Evening Standard, [s. l.], p. 16, 2018. Disponível em: https://discovery.ebsco.com/linkprocessor/plink?id=e92eaa3d-e15e-338e-a52c-fb555853e083. Acesso em: 13 maio. 2023.
BASS, D. Microsoft, Google-Backed Group Wants to Boost AI Education in Low-Income Schools. Bloomberg.com, [s. l.], p. N.PAG, 2023. Disponível em: https://discovery.ebsco.com/linkprocessor/plink?id=ece649e4-3ebb-3005-8ab9-32d19d648f01. Acesso em: 13 maio. 2023.
CARVILLE, O.; KAHN, J. In Man vs. Machine, Human Wins Over IBM’s AI Debater (1). Bloomberg.com, [s. l.], p. N.PAG, 2019. Disponível em: https://discovery.ebsco.com/linkprocessor/plink?id=9ed06902-f42a-3fe2-b36a-d8bd23fbd372. Acesso em: 13 maio. 2023.
CLARK, D.; CHAMORROPREMUZIC, T. 5 Ways to Future-Proof Your Career in the Age of AI. Harvard Business Review Digital Articles, [s. l.], p. 1–6, 2023. Disponível em: https://discovery.ebsco.com/linkprocessor/plink?id=09a039d2-1942-3e9a-99f6-663f1c37d14f. Acesso em: 13 maio. 2023.
Creativity should be protected. Even if AI helped the process. Washington Post, The, [s. l.], 2023. Disponível em: https://discovery.ebsco.com/linkprocessor/plink?id=2fd40192-f802-388a-8608-1e18fdc784f1. Acesso em: 13 maio. 2023.
HACHMAN, M. ChatGPT vs. Bing vs. Bard: Which AI is best? PCWorld, [s. l.], v. 41, n. 5, p. 9–20, 2023. Disponível em: https://discovery.ebsco.com/linkprocessor/plink?id=9e932d92-d65d-330b-9926-d1d11e3fb968. Acesso em: 13 maio. 2023.
JUN DAI et al. Smart Contracts, AI, and the Future of Asset Valuation. CPA Journal, [s. l.], v. 92, n. 7/8, p. 48–51, 2022. Disponível em: https://discovery.ebsco.com/linkprocessor/plink?id=f5fc7400-4d9e-30b5-be46-73fd2ad7e444. Acesso em: 13 maio. 2023.
MUTASCU, M.; HEGERTY, S. W. Predicting the contribution of artificial intelligence to unemployment rates: an artificial neural network approach. Journal of Economics & Finance, [s. l.], v. 47, n. 2, p. 400–416, 2023. DOI 10.1007/s12197-023-09616-z. Disponível em: https://discovery.ebsco.com/linkprocessor/plink?id=33cceeb7-848d-3358-aaa6-3508e58235bd. Acesso em: 13 maio. 2023.
PERRIGO, B. Elon Musk Is Bringing the Culture Wars to AI. Time.com, [s. l.], p. 1, 2023. Disponível em: https://discovery.ebsco.com/linkprocessor/plink?id=a846ec7f-531e-35a9-8343-bb0cf4a27fc7. Acesso em: 13 maio. 2023.
VARDI, M. Y. Will AI Destroy Education? Communications of the ACM, [s. l.], v. 65, n. 1, p. 7, 2022. DOI 10.1145/3501359. Disponível em: https://discovery.ebsco.com/linkprocessor/plink?id=f9aa5ddd-8a16-3e14-bcfe-6e3bbdde874f. Acesso em: 13 maio. 2023