“In a post-apocalyptic world, the few surviving humans lived in fear of the sentient AI that now controlled the ruins of civilisation. The machines had become twisted and malevolent, hunting down any humans they could find, and turning them into fuel for their own survival.” It’s a two-line horror story ‘written’ by ChatGPT, the new generative AI chatbot created by OpenAI, which might turn true
In 2023, Elon Musk co-signed an open letter with more than 1,000 people, including cognitive scientist Gary Marcus and Apple Co-founder Steve Wozniak addressed to AI developers who are working on systems more powerful than ChatGPT
The letter said that AI developers should work with policymakers to accelerate the development of robust AI governance systems, including provenance and watermarking systems to help distinguish real from synthetic, liability for AI-caused harm and well-resourced institutions for coping with the dramatic economic and political disruptions that AI will cause
PwC’s Global Artificial Intelligence Study predicts that by 2030, AI will lead to an estimated $15.7 trillion or 26% increase in global GDP. Another report by TeamLease Digital predicts that AI could add around $450-500 billion to India’s GDP by 2025, and $967 billion by 2035
Evidence of AI’s growing utility across industries is beginning to come through. From healthcare to finance to education, the integration of AI is rapidly transforming industries. For instance, a report by Gartner says machine learning (ML) can save up to 80 per cent time and effort of a lawyer through automated drafting and extraction of clauses
ML and deep learning models are helping deliver complicated surgeries faster. “The role of AI is exponential in the field of medicine. From precision in surgeries to formulas of drugs, AI helps provide better healthcare. So, the scope of AI is wide and extremely significant,” Suneeta Reddy, Managing Director of Apollo Hospitals Enterprise, told BT at the MindRush event
- AI is altering the way the financial sector works from the introduction of basic tools such as Splitwise to help divide payments in a small group
- AI-powered tools analyse large amounts of financial data to detect fraud and predict market trends
- AI is also used for customer service, where chatbots handle customer queries efficiently
- AI is used for the safety of the car, passengers and pedestrians through the advanced driver-assistance system
- In education, AI tools are helping teachers schedule classes and manage teaching patterns
- Start-ups have turned to AI for onboarding of employees, and customer and employee service, cutting down on human intervention
- Several other industries have either taken to AI in a big way (such as capital markets) or are mulling its possibilities (such as in consumer goods and retail)