WHAT IS THE FUTURE OF AI?

Artificial Intelligence has become an integral part of human life. As MBA students, we experience AI at every threshold of our daily life. From seeking suggestions to getting help completing assignments overnight, it revolves around AI. And honestly, it's the most helpful thing for humans in the third decade of the '20s. However, as AI continues to grow at a rapid pace, people started being concerned about its ethical implications, dangerous misuse, and bad social impact. These fueled the question of whether AI should be banned in the future. The answer can be both "Yes" and "No". Let's explore both sides of the issue and discuss the complexities regarding the regulations of AI.

• Pros of banning AI:- *Ethical Concerns:- People claim that if AI is not regulated, then it will result in moral dilemmas such as violation of privacy, advancement of autonomous weapons, and biased decision-making. Banning or strictly regulating AI can eliminate these mentioned concerns quickly.*Taking away jobs:- AI is snatching away jobs but equally creating jobs. Roughly 85 million jobs will be replaced by AI, and the other hand, it can generate 97 million jobs(Source:- "The future of jobs report,2020"). But the problem is that AI will mostly take away the mid/low-end jobs and create the high-end jobs. The people who were working as low-end laborers, aren't capable of doing high-end jobs, will suffer the most. The cost of labor also will be reduced.*Security concerns:- The use of AI in Cybersecurity raises questions about security. People can use AI-powered systems in hacking, which will create a dangerous situation worldwide. A prohibition of some AI apps/software can be done to protect against hostile use.
• Cons of banning AI:-*Technological Progress:- Banning AI can stop its technological growth. AI has the capacity to increase productivity, advancement of knowledge, and solve complex problems. Restricting its growth can impede innovation and stop its positive impact on society.*Economic Growth:- AI is a vital driver for the economic growth of many countries and businesses. It can create global competitiveness. A restriction on AI in a particular country can be a competitive disadvantage to other countries while other countries continue to invest and develop in AI. So, there should be a balance in regulation regarding AI amongst all countries.*Society benefit:- AI has numerous benefits in our society. It improved disaster response, better healthcare diagnostics, and more efficient transportation networks. Banning AI completely can impede the positive impacts on society.It is important to find a balance between adopting the benefits of AI and addressing its possible threats. As technology advances, a solid regulatory structure that addresses ethical concerns, provides job stability?and protects against risks to safety may be the key to effectively utilizing AI's promise without compromising social well-being.