Is Artificial Intelligence Good for Society?

The National Artificial Intelligence Act of 2020 defines artificial intelligence as, “a machine-based system that can, for a given set of human-defined objectives, make predictions, recommendations or decisions influencing real or virtual environments.”

The Banking Industry

An industry that has been known for integrating AI into its services is the banking industry. Banks utilize AI to protect users from payment fraud. This is done by analyzing the user's transactions and activity. When something seems off AI detects the issue and flags the potential fraud to stop it before the payment goes through. When users receive emails or notifications about suspicious behavior this is most likely discovered through AI.?

How Artificial Intelligence can be good for Society

AI has already been deployed in many industries such as tech, communication, healthcare, banking, and many others. Companies within these industries are taking advantage of how efficient AI can be for them. With how fast AI can analyze mass amounts of data, the efficiency allows analysts to put their time into other aspects of their work.?

Final Thoughts

The future of AI is bright, especially within marketing. AI’s ability to use machine learning to increase efficiency, personalization, and increase customer experience is an advantage for marketers. AI isn't all positive as possible issues can arise. Ethical issues and biases are known to happen within AI and should be monitored consistently to insure that machine learning continue to produce fair outcomes.

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