AI executives may be exaggerating the dangers of artificial intelligence in order to advance their own interests, according to an analysis of responses to proposed AI regulations.
Companies across various sectors discussed their use of artificial intelligence (AI) and how it could benefit their businesses during Q2 earnings calls, aiming to distract investors from lackluster Q2 results and highlight the potential for AI to boost earnings and sales in the future, according to Goldman Sachs analysts.
A new poll conducted by the AI Policy Institute reveals that 72 percent of American voters want to slow down the development of AI, signaling a divergence between elite opinion and public opinion on the technology. Additionally, the poll shows that 82 percent of American voters do not trust AI companies to self-regulate. To address these concerns, the AI Now Institute has proposed a framework called "Zero Trust AI Governance," which calls for lawmakers to vigorously enforce existing laws, establish bold and easily administrable rules, and place the burden of proof on companies to demonstrate the safety of their AI systems.
Summary: AI ethics refers to the system of moral principles and professional practices used to guide the development and use of artificial intelligence technology, with top concerns for marketers including job security, privacy, bias and discrimination, misinformation and disinformation, and intellectual property issues, and there are five steps that can be taken to maintain ethical AI practices within teams and organizations.
Artificial intelligence (AI) is revolutionizing the accounting industry by automating tasks, providing insights, and freeing up professionals for more meaningful work, but there is a need to strike a balance between human and machine-driven intelligence to maximize its value and ensure the future of finance.
The U.S. is falling behind in regulating artificial intelligence (AI), while Europe has passed the world's first comprehensive AI law; President Joe Biden recently met with industry leaders to discuss the need for AI regulation and companies pledged to develop safeguards for AI-generated content and prioritize user privacy.
Artificial intelligence (AI) has the potential to deliver significant productivity gains, but its current adoption may further consolidate the dominance of Big Tech companies, raising concerns among antitrust authorities.
Entrepreneurs and CEOs can gain a competitive edge by incorporating generative AI into their businesses, allowing for expanded product offerings, increased employee productivity, more accurate market trend predictions, but they must be cautious of the limitations and ethical concerns of relying too heavily on AI.
The deployment of generation AI (gen AI) capabilities in enterprises comes with compliance risks and potential legal liabilities, particularly related to data privacy laws and copyright infringement, prompting companies to take a cautious approach and deploy gen AI in low-risk areas. Strategies such as prioritizing lower-risk use cases, implementing data governance measures, utilizing layers of control, considering open-source software, addressing data residency requirements, seeking indemnification from vendors, and giving board-level attention to AI are being employed to mitigate risks and navigate regulatory uncertainty.
The rise of AI is not guaranteed to upend established companies, as incumbents have advantages in distribution, proprietary datasets, and access to AI models, limiting the opportunities for startups.
The use of AI algorithms by insurance companies to assess claims is raising concerns about potential bias and lack of human oversight, leading Pennsylvania legislators to propose legislation that would regulate the use of AI in claims processing.
AI is reshaping industries and an enterprise-ready stack is crucial for businesses to thrive in the age of real-time, human-like AI.
Artificial intelligence should be used to build businesses rather than being just a buzzword in investor pitches, according to Peyush Bansal, CEO of Lenskart, who cited how the company used AI to predict revenue and make informed decisions about store locations.
The integration of artificial intelligence (AI) is driving the growth of smart manufacturing, with the use of AI expected to enhance decision-making, optimize operations, and improve automation processes in factories, as well as complementing supply chain optimization and inventory management.
Artificial intelligence (AI) is seen as a tool that can inspire and collaborate with human creatives in the movie and TV industry, but concerns remain about copyright and ethical issues, according to Greg Harrison, chief creative officer at MOCEAN. Although AI has potential for visual brainstorming and automation of non-creative tasks, it should be used cautiously and in a way that values human creativity and culture.
In his book, Tom Kemp argues for the need to regulate AI and suggests measures such as AI impact assessments, AI certifications, codes of conduct, and industry standards to protect consumers and ensure AI's positive impact on society.
Corporate America is increasingly mentioning AI in its quarterly reports and earnings calls to portray its projects in a more innovative light, although regulators warn against deceptive use of the term.
The UK government has been urged to introduce new legislation to regulate artificial intelligence (AI) in order to keep up with the European Union (EU) and the United States, as the EU advances with the AI Act and US policymakers publish frameworks for AI regulations. The government's current regulatory approach risks lagging behind the fast pace of AI development, according to a report by the science, innovation, and technology committee. The report highlights 12 governance challenges, including bias in AI systems and the production of deepfake material, that need to be addressed in order to guide the upcoming global AI safety summit at Bletchley Park.
A new paper published by Morningstar argues that artificial intelligence (AI) is unlikely to replace financial advisors because it lacks the trust of humans and faces significant hurdles to fulfill its potential in handling the responsibilities of financial advising, comparing it to previously overhyped innovation trends like robo-advisers and autonomous vehicles.
The digital transformation driven by artificial intelligence (AI) and machine learning will have a significant impact on various sectors, including healthcare, cybersecurity, and communications, and has the potential to alter how we live and work in the future. However, ethical concerns and responsible oversight are necessary to ensure the positive and balanced development of AI technology.
A survey of 213 computer science professors suggests that a new federal agency should be created in the United States to govern artificial intelligence (AI), while the majority of respondents believe that AI will be capable of performing less than 20% of tasks currently done by humans.
Mustafa Suleyman, CEO of Inflection AI, argues that restricting the sale of AI technologies and appointing a cabinet-level regulator are necessary steps to combat the negative effects of artificial intelligence and prevent misuse.
AI is being discussed by CEOs behind closed doors as a solution to various challenges, including cybersecurity, shopping efficiency, and video conferencing.
Using AI to streamline operational costs can lead to the creation of AI-powered business units that deliver projects at faster speeds, and by following specific steps and being clear with tasks, businesses can successfully leverage AI as a valuable team member and save time and expenses.
The G20 member nations have pledged to use artificial intelligence (AI) in a responsible manner, addressing concerns such as data protection, biases, human oversight, and ethics, while also planning for the future of cryptocurrencies and central bank digital currencies (CBDCs).
Stock investors should focus on long-term beneficiaries of artificial intelligence, as near-term beneficiaries have already experienced significant share price increases, according to Goldman Sachs. Companies across various sectors, such as communication services, consumer discretionary, financials, and information technology, are expected to see a boost in their earnings per share from AI adoption.
Eight big tech companies, including Adobe, IBM, Salesforce, and Nvidia, have pledged to conduct more testing and research on the risks of artificial intelligence (AI) in a meeting with White House officials, signaling a "bridge" to future government action on the issue. These voluntary commitments come amidst congressional scrutiny and ongoing efforts by the White House to develop policies for AI.
Senators Richard Blumenthal and Josh Hawley are holding a hearing to discuss legislation on regulating artificial intelligence (AI), with a focus on protecting against potential dangers posed by AI and improving transparency and public trust in AI companies. The bipartisan legislation framework includes creating an independent oversight body, clarifying legal liability for AI harms, and requiring companies to disclose when users are interacting with AI models or systems. The hearing comes ahead of a major AI Insight Forum, where top tech executives will provide insights to all 100 senators.
The US Securities and Exchange Commission (SEC) is utilizing artificial intelligence (AI) technologies to monitor the financial sector for fraud and manipulation, according to SEC Chair Gary Gensler.
Tesla CEO Elon Musk suggests the need for government regulation of artificial intelligence, even proposing the creation of a Department of AI, during a gathering of tech CEOs in Washington. Senate Majority Leader Chuck Schumer and other attendees also expressed the view that government should play a role in regulating AI. The options for regulation range from a standalone department to leveraging existing agencies, but the debate is expected to continue in the coming months.
Artificial intelligence (AI) will be highly beneficial for executives aiming to save money in various sectors such as banking, insurance, and healthcare, as it enables efficient operations, more accurate data usage, and improved decision-making.
The finance industry leads the way in AI adoption, with 48% of professionals reporting revenue increases and 43% reporting cost reductions as a result, while IT, professional services, and finance and insurance are the sectors with the highest demand for AI talent.
Artificial intelligence (AI) is transforming the real estate industry, providing convenience and improved accuracy in home buying and selling through various applications and algorithms; however, industry leaders emphasize the need for vigilance and oversight to avoid potential inaccuracies and misinformation.
Recent Capitol Hill activity, including proposed legislation and AI hearings, provides corporate leaders with greater clarity on the federal regulation of artificial intelligence, offering insight into potential licensing requirements, oversight, accountability, transparency, and consumer protections.
The restaurant industry is increasingly incorporating artificial intelligence (AI) to reduce costs, enhance productivity, and improve customer experience.
A bipartisan group of senators is expected to introduce legislation to create a government agency to regulate AI and require AI models to obtain a license before deployment, a move that some leading technology companies have supported; however, critics argue that licensing regimes and a new AI regulator could hinder innovation and concentrate power among existing players, similar to the undesirable economic consequences seen in Europe.
The Subcommittee on Cybersecurity, Information Technology, and Government Innovation discussed the federal government's use of artificial intelligence (AI) and emphasized the need for responsible governance, oversight, and accountability to mitigate risks and protect civil liberties and privacy rights.
Artificial intelligence (AI) requires leadership from business executives and a dedicated and diverse AI team to ensure effective implementation and governance, with roles focusing on ethics, legal, security, and training data quality becoming increasingly important.
Governments worldwide are grappling with the challenge of regulating artificial intelligence (AI) technologies, as countries like Australia, Britain, China, the European Union, France, G7 nations, Ireland, Israel, Italy, Japan, Spain, the United Nations, and the United States take steps to establish regulations and guidelines for AI usage.
A new poll reveals that 63% of American voters believe regulation should actively prevent the development of superintelligent AI, challenging the assumption that artificial general intelligence (AGI) should exist. The public is increasingly questioning the potential risks and costs associated with AGI, highlighting the need for democratic input and oversight in the development of transformative technologies.
Nearly half of CEOs (49%) believe that artificial intelligence (AI) could replace most or all of their roles, and 47% think it would be beneficial, according to a survey from online education platform edX. However, executives also acknowledged that "soft skills" defining a good CEO, such as critical thinking and collaboration, would be difficult for AI to replicate. Additionally, the survey found that 49% of existing skills in the current workforce may not be relevant by 2025, with 47% of workers unprepared for the future.
Wikipedia founder Jimmy Wales believes that regulating artificial intelligence (AI) is not feasible and compares the idea to "magical thinking," stating that many politicians lack a strong understanding of AI and its potential. While the UN is establishing a panel to investigate global regulation of AI, some experts, including physicist Reinhard Scholl, emphasize the need for regulation to prevent the misuse of AI by bad actors, while others, like Robert Opp, suggest forming a regulatory body similar to the International Civil Aviation Organisation. However, Wales argues that regulating individual developers using freely available AI software is impractical.
AI adoption is rapidly increasing, but it is crucial for businesses to establish governance and ethical usage policies to prevent potential harm and job loss, while utilizing AI to automate tasks, augment human work, enable change management, make data-driven decisions, prioritize employee training, and establish responsible AI governance.
The use of third-party AI tools poses risks for organizations, with more than half of all AI failures coming from third-party tools, and companies are advised to expand responsible AI programs, properly evaluate third-party tools, prepare for regulation, engage CEOs in responsible AI efforts, and invest in responsible AI to reduce these risks.
The U.S. government must establish regulations and enforce standards to ensure the safety and security of artificial intelligence (AI) development, including requiring developers to demonstrate the safety of their systems before deployment, according to Anthony Aguirre, the executive director and secretary of the board at the Future of Life Institute.
