AI’s rapid pace and progress

I have written columns on Artificial Intelligence in recent weeks. In the first one I asked the question ‘should we fear the AI that is going to hit us’ and in the second I asked ‘can we build trust and ethics in AI systems.

Today, I would like to share ‘the rapid pace and progress of AI.

Let’s have a look at the tools of AI progress in action:

* Applications: From AI-generated art, articles, and even dissertations, to applications across industries like healthcare and manufacturing, we’ve come a long way from just teaching computers to play chess.

Look at this: college students are sharing (anonymously) that they’ve started using AI tools to generate essays that can bypass anti-plagiarism software and score an A. The widespread use of the tools could reshape education and force schools to figure out new writing prompts or entirely fresh ways of assessing student performance to avoid being duped by the technology.

* Projections: AI isn’t quite classifiable as an “industry” yet, but with its growth expectations, it could soon arrive there. Most projections have the AI niche reaching over US$420B in total market size by 2028, a compound annual growth rate of 39.4%. 

* Blowing up: AI and machine learning startup businesses raised US$115B in 2021, which is more than one-third of the total venture capital raised for all startups throughout the year. Funding is down this year in comparison, but it’s down across the board — the trend remains clear. 

Look at these examples:

Microsoft is in advanced talks to increase investment in OpenAI. The investment interest indicates the big bets tech giants are willing to make in artificial-intelligence technology.

Google is in talks to invest at least $200 million into artificial intelligence startup Cohere Inc., according to people familiar with the matter; another sign of the escalating arms race among large technology companies in the sector. 

The inevitability of the future

There are some harbored fears surrounding AI ranging from doomsday scenarios to simple ethics concerns, but the overall trend is clear, and investors seem to have confidence that humanity will make the necessary adjustments to coexist with this new tech. 

AI’s rapid pace and progress will continue for the foreseeable future. Whether through business or investment, getting some exposure to this budding sector is probably unavoidable.

The future of Integrity

The future we are heading into – short-term, mid-term, long-term – cannot be without Integrity. Integrity must be part of the learning process for young people, it must be part of the working process and business process of the private sector, and it must definitely be part of how government operates on the national and local level. And integrity must be part of the development of artificial intelligence.

Let’s all commit to contribute to the creation of a great future!

Feedback will be appreciated; contact me at [email protected]