The current AI boom is not the edge but a scratched surface

A conundrum has risen in the recent months. Whether to embrace artificial intelligence (AI) or fear it. From creators to major corporations, everyone's going bananas over this technology. From where we are seeing it, it's just the beginning of something greater that'll unfold in our forthcoming years.

Ray Dalio, billionaire and founder of Bridgewater Associates, called AI a "great disruptor " during Fast Company Innovation Festival 2023. Additionally, it may become a center of argument for entities trying to bring its evolution down. Looking at the pace AI is evolving, it is indeed becoming a significant integration for many industries.

Tech Giants' Pursuit of AI

Major organizations including Microsoft, International Business Machine, Amazon and more are continuously gaining momentum in AI integration. Meta Platforms (formerly Facebook), the social media giant, is catching up to them.

Recently, Meta's CEO, Mark Zuckerberg, said during an earnings call that the technology was a "key theme" for the company. It is noteworthy that the company went all in for the metaverse after rebranding in 2021 . However, they lost a fortune to it. It appears that the company's newfound attention on artificial intelligence is drifting them away from the virtual worlds.

Nvidia, a leading graphic processing units (GPUs) manufacturer, is raising the bar in association with the technology. The current generative AI models require a large fleet of GPUs to operate. According to research presented by Jon Peddie Research, a computer graphics marketing company, Nvidia holds a lion's share of GPU industry .

Jensen Huang, Nvidia founder and CEO, says the company will bring AI to every industry . Additionally, he revealed that half of the Fortune 100 companies are using their DGX AI supercomputers. Adding that "DGX supercomputers are modern AI factories."

Multinational technology company IBM recently told Forbes, American business magazine, that the company is involved in AI research . Michael Peluso, the organization's senior vice president, explained to news media house CNBC how they are leveraging the technology for marketing.

In 2016, retail giant Amazon announced their Amazon AI platform. One of its services called Rekognition enables users to identify scenes and objects . Amazon Web Services (AWS) CEO Andy Jassy said "We have thousands of dedicated to AI in our business."

The Creativity Boost

We are increasingly witnessing use cases of creators using AI to boost productivity. Some are against the technology's integration to creative industries. Scarce human touch is causing defiance towards artificial intelligence among artists.

Creators are using platforms like ChatGPT to research for content. However, a study by Purdue University found it answers half the questions wrong . The paper concludes, "Our manual analysis shows that ChatGPT produces incorrect an-

swers more than 50% of the time."

With increasing tools and monetization opportunities, the future of the creator economy looks bright. Goldman Sachs, an investment banking company, forecasts the market could generate nearly half a trillion dollars by 2027 .

Ownership rights regarding AI generated art, however, can be bewildering as the technology cannot be perceived as an individual exercising or enjoying them. The Copyright, Designs and Patents Act of 1988 does not take computer generated art into account as copyright-worthy.

Nevertheless, the definition isn't fully capable of covering generative AI produced art. Given that the work is a result of input provided by humans, an element of some ownership is possible. Still, it can piece together original works to produce fresh work which may induce copyright infringements.

Ethical AI may resolve such issues to some extent. Technology company C3.ai defines it as "artificial intelligence that adheres to well-defined ethical guidelines regarding fundamental values, including such things as individual rights, privacy, non-discrimination, and non-manipulation."

A Promising Lieutenant or Ominous Nemesis

Ripple effects triggered by AI are global. An American news magazine TIME wrote in an article centered around United Nations' (UN) plans regarding the technology that its impact will be felt beyond borders .

McKinsey and Company, one of the "Big Three" management consultancies, elucidates on a report dubbed Generative AI and the future of work in America about artificial intelligence's potential impact it may leave. Even so, there are debates about possible job cuts due to the technology.

Businesses are making no delay in automating their operations using the technology. A report released by outplacement firm Challenger, Gray & Christmas highlights AI slashed nearly 5 percent of all jobs lost during May 2023.

Without a shadow of a doubt, AI will claim an integral place within our lives. It is upon the utility that'll define if it is a boon or a curse for humanity. While ethical AI may accelerate productivity by manifolds. Nonetheless, failing to do so may leave us entangled in undesirable technological clashes.