Machine Learning and Generative AI

Remember when the idea was that we would have flying cars in the future? Well, we don't have that yet, but we have technology that can learn and grow, just like us. 

Machines can learn!? Yes, they can. This isn't like The Terminator, though. Machine learning and Generative AI refer to the area of AI that allows technologies like computers to learn the way humans learn and to make decisions autonomously without programming. It is used in your daily life whether you know it or not. Things such as the algorithm on your social media, speech recognition bots like Siri, and ride-share apps like Uber all use machine learning to optimize compatibility. While these all sound harmless, Machine learning has a major impact on societal issues.

Generative AI and Machine Learning have the power to transform lives and reform entire industries. Technically speaking, it has already begun doing that. In January, a study was conducted in Germany that discovered ML systems can detect diseases like breast cancer with improved accuracy over doctors, with one extra case of cancer caught per every thousand women. It should also be noted in the study that they had a higher detection rate with the same amount of false positives. Same risk, higher reward. Financially, ML systems help banks detect fraud by training the model to detect inconsistencies with purchases and alert the bank to any anomalies that need further investigation. For companies, ML enhances supply chain management, helps forecast demand, and helps make market strategies that target specific audiences. In 2023, it was predicted that the Fashion industry would increase profits by 275 million dollars due to the impacts of ML and Generative AI, a major jump for brands in the fashion industry. 

While the benefits are there, concerns are beginning to circulate among people about how impactful this technology can truly become. The concern I hear about the most is Job displacement. For good reason, too, as the World Economic Forum released a report stating that 26 million jobs could be dissolved by AI in the next years. Other concerns resonate with privacy. Companies and Governments can collect insane amounts of data from people to train these AI models. With most people unable to clearly consent, or with the companies simply not asking, this raises concern. An Australian business had breached thousands citizens privacy laws by capturing imagery and collecting information on customers for 3 years, aiding this concern of privacy in ML. 

ML primarily affects those of the working class. The working class jobs are the ones at risk, not the CEO positions. ML and generative AI are risks to those in low-income areas as well, as they may not be able to afford the benefits AI brings. 

ML and AI are neither good nor bad. It provides countless benefits to the majority, but its risks must not be forgotten. It is important to continue to educate people on its implications. It is impossible to avoid in today's day and age, so being educated on the implications and positives is the best way to maximize return and minimize regret.