Artificial Intelligence – A Great Promise or Great Peril?
Artificial Intelligence has made its way into our lives, for better or for worse. We are surrounded by AI applications from Siri, Alexa, facial recognition, and self-driving cars, to machinery and bots being used for diagnosis in the medical industry to robots being used for automation in the technical industry. AI technologies are spreading fast through millions of dollars worth of investment in their development by leading tech giants. In 2022 alone, investors poured 92 billion USD into the AI market as per a report by Statista . The same report also states that as of 2023, the Global AI market is worth 142.3 billion USD . Big tech giants, including Apple, Google, GM, and more are all investing in AI technologies. However, Elon Musk is one tech giant who is openly opposed to AI , stating that ‘it (AI) could perhaps be the greatest existential threat to humanity.’ In this blog, we take a deeper look into the threats that AI poses and also the benefits, to develop a better unde...