ChatGPT’s huge success landed OpenAI in a multi-billion dollar deal with Microsoft – Copyright AFP/File PHILIPPE HUGUEN
AI is a business asset and no one is sure how to use external number calculations and streamlining routines. Big accounting firms like Price Waterhouse Coopers clearly like it and predict massive economic growth.
Perhaps on an accounting level this is all good and works well. The emerging problem is that AI is the solution for everything from basic bookkeeping to leadership.
If business isn’t about money, it’s about practical irony. That’s not enough.
I can see it now – “I have traveled to the land of bots, and these revelations have been assured to me.”
But let’s not be unnecessarily negative. Before we get to this, there are also some benefits as an artifact.
Improving access for people with disabilities.
Fraud monitoring and portfolio management – a strange combination
Security and a belated recognition of the risks posed by universal AI
Basics like Microsoft Copilot for Office 365
This is all about relatively sound, basic, personal business. Not all disasters await. Once you have a toy, it’s time to figure out how to use it. The end of the world is apparently still in the theoretical stage.
That doesn’t mean you shouldn’t be cynical. Too much rosy in too many areas. Elsewhere, the topic of AI as the future of wealth management and similar topics merge into a rather nebulous vision of the future.
Note that wealth management can be a hair-trigger environment, especially in the market. AI should be able to instantly solve whatever happens. I agree? If not, why?
This is a ton of money and is “managed” by software with its own built-in priorities written by someone else. You are not in control of their priority. You manage software. Could it be a multi-billion dollar problem?
Businesses are subject to non-information overload. It is almost the same as the appearance of the Internet and personal computers. Theory cries, the facts whisper.
Perhaps even worse, AI is actually a variety of non-standardized entities with varying degrees of competence, the new beige. There are decoration elements such as new cars and kitchens. This year’s AI will not be next year’s AI. A little too predictable. Your AI can, and will eventually, outperform your competitor’s AI.
On this basis you are supposed to conduct business.
TRUE?
skepticism is certainly no High demand. The New Yorker published an article, There is no AI, which is a very effective argument against hysteria. The NYer article claims that AI is just code, which is absolutely true.
There is also a large amount of bad information that AI can consider as a source. It’s quite possible that the AI version of QAnon, a sort of AI random word association app.
Can AI do cross-checks and fact-checks? If this leads to a global purchase of non-existent condominiums worth billions of dollars in Florida, then we have a problem.
A less impressive, but certainly business-impacting, move to water down EU laws restricting AI. This includes using AI for facial recognition, social scoring like China’s social credit system, and other issues. Ironically, these are already subject to statutory law and can carry serious legal liability. The new law is about AI doing those things.
Another obvious factor in this combination is the fact that outside parties exploiting AI are inevitable. Many major companies have been under cyber siege for decades. AI has not yet been proven to be able to manage these problems.
Can you get business intelligence from your competitors’ AI? Probably. Anyone try to do that? absolutely. Is it good or bad? This is an immature technology. I didn’t have time to learn cyber karate. Self-defense ability can be anything.
AI is very likely to create as many problems as it solves. Efficient, yes. This also means that you can generate problems just as efficiently. AI is either a blessing or a curse and has no clear definition.
Naive is not an option.
