Artificial intelligence (AI) has been creating a lot of volatility across industries around the world. And in 2024, it is still creating so many waves that are rocking the boat for investors looking to ride the AI wave.
It's easy to see the potential for AI to create massive disruption, but it can also create massive disasters if you don't know how to sail the stormy seas.
My four rules here will help you cut through the noise and hype — in 2024 and beyond.
These new developments will undoubtedly cause some turmoil in the industry, regardless of whether they coalesce into a full-fledged upheaval. In response, governments are rushing to establish new regulations to curb unchecked profiteering by weighing benefits against risks.
For instance, the AI Act, a proposed legislation for the EU, aims to taxonomize systems based on their riskiness, measured with social scoring, biometric ID and mass surveillance. These rules on transparency and accountability will therefore have a direct impact on the adoption of the systems, which in turn will affect the profitability of companies using them.
This would mean that countries with different policies would create challenges for firms operating across the world, however committed they might be to journeying with machine learning (ML) models. Given the variations in philosophical outlook and political frameworks, I suspect it could take a long time for the........