6 things you might not know about AI

Hotwire’s recent breakfast event, 'The Rise of AI', provided a few insights into how quickly AI is developing (faster than you can say ‘the robots are coming’, since you ask). We’ve collated some of the key takeaways

Artificial intelligence (AI) has progressively been developing for decades, and while some joke about a Terminator-esque apocalypse, it’s already having a subtle yet profound impact on our lives, particularly in the way it dictates our choices through online recommendations via Amazon and Spotify. AI’s impact is – and will continue to be – ubiquitous.

Here’s a summary of the most enlightening points from those in the know. 

1. Data is driving AI’s development

The amount of data we generate every day is ever-increasing, and is one of the driving forces behind the development of AI in recent years. Before too long it’s predicted that we’ll each be generating nine gigabytes of data a day – but thankfully for marketers, that means machines will have even more information to gather, analyse and learn from.

2. We’re already using AI every day

Companies like Amazon, Spotify and Netflix are using AI to understand our preferences and provide us with an increasingly tailored and personalised experience. In future, it’ll be down to skilled marketers to use AI to understand these customer preferences and turn them into purchases.

3. The efficiency of AI is a double-edged sword for businesses

AI’s strength is its inability to fail, but this could also translate into problems for people and businesses. For example, as humans, we learn and innovate by making mistakes (think about scientific development, for instance), so it’s important to ensure this process is never completely removed as a result of AI. On the flipside, more free time as a result of automated processes could spur more creative thinking.

4. AI’s impact on the labour market could be colossal

There’s little doubt that AI will cause job losses across a number of industries, and we need to think carefully about its impact on the job market. Millions of people could lose their jobs quite suddenly, and it’s currently unclear how governments would deal with high levels of unemployment.

5. AI is already raising some philosophical legal questions like: ‘Who’s liable for AI-related losses and damages?’

A large proportion of business operations are autonomous as a result of AI. The legal question that emerges as a result of this is: ‘Who’s liable for AI-related loss or damages caused by autonomous working?’ Is it the fault of the programmer, or the AI machine itself?

6. AI will be integral to the next batch of start-ups

The evolution of AI is inevitable, and Dean Withey of Unisend argues that the next 10,000 start-ups will be driven by AI. It’s here – and it’s here to stay.

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