Should AI technology have forecasted the economic shake-up? To be fully transparent, AI is a tool that has to be designed and backed by reliable and extensive data. Like the humans doing the designing, it is imperfect. But it’s usefulness evolves in time, through constant reiteration. So, no, AI technology alone never could have predicted where our economy finds itself today.
Furthermore, when it comes to developing or utilizing new technology, sometimes crafting a narrative that might sound good in a boardroom can end up being more attractive than actually doing the work necessary to make sure that technology is effective.
And, let’s be honest: We’re all somewhat to blame here. AI, for example, a sexy but imperfect solution to the all-important informed decision-making process, is the latest buzzword in the world of tech.
It can be difficult to avoid media coverage and ongoing conversation surrounding the benefits of artificial intelligence. It seems every pundit and expert in tech and business is high on the future of AI and machine learning conceptually.
And why not? After all, it promises, ultimately, to make our world smarter. Beyond business and economic benefits, there’s also some kind of mystique surrounding the automatic, almost magical process of synthesizing large quantities of data and information.
You’ve probably seen this in the movies: An algorithm takes a large amount of data, processe