Artificial intelligence: Hype or help?
Throughout history we have seen the introduction and subsequent life-altering impact of technological advances, from personal computers and the internet to mobile phones. Is artificial intelligence (AI) the next tool that will transform our world?
AI has slowly but steadily turned into our society’s default magic bullet, supposedly capable of solving myriad global problems. But does AI hold this much power, or is it simply a buzzworthy marketing tool for selling products and services?
A growing number of cybersecurity experts, myself included, believe AI’s capabilities are overinflated. Recently, the misleading, headline-grabbing claims reached an all-time high, leading the Federal Trade Commission (FTC) to issue a public warning against AI overuse and abuse in marketing campaigns. As part of the announcement, the FTC flatly stated, “claims [about algorithms and AI-based tools] might not even work as advertised in the first place.”
FTC’s pushback against AI aggrandizers is warranted. That said, it is essential to recognize that the technology does offer consumers and businesses real — if still limited — value. Radiologists use AI to detect potentially cancerous masses and abnormalities more accurately. Scientific researchers harness the tools to transform the drug development process. There are also countless examples of everyday consumer benefits, including in the financial sector, where banks leverage AI to flag fraudulent transactions for credit card users.
In Arkansas, small and large businesses can also reap AI’s rewards. Rather than viewing AI as a cure-all, entities should consider it as an internal capacity builder. AI can help companies streamline their employees’ tasks so they can focus on tackling bigger and more urgent matters.
Just think if AI were around during the time of NASA’s so-called human computers featured in the movie “Hidden Figures.” These women achieved incredible feats. But their collective brainpower could have likely done even more to advance our nation’s space program if they didn’t have to crunch numbers by hand. AI frees up humans to work smarter.
Before diving headfirst into AI, businesses should implement guardrails. First, entities must consider whether they will have control over the AI tool. Wired recently noted that “large language models, like ChatGPT, and image creators are powered by vast reams of our data.”
Companies also should remember that if the claims about an AI product or service sound too good to be true, they probably are. The FTC cautioned, “It’s not uncommon for advertisers to say that some new-fangled technology makes their product better — perhaps to justify a higher price or influence labor decisions.”
AI requires a human element, including fact-checking and thorough verification processes. As an example, law firms may use AI to scour through mountains of documents, saving associates’ billable hours for higher-rate projects. But these same lawyers wouldn’t want to present an unedited AI-generated briefing to a judge. Businesses should always verify AI information against reputable, credible sources.
Is AI overinflated? Certainly. However, the technology is here to stay, and Arkansas businesses would be well-served to consider taking advantage of its potential benefits. But in doing so, companies must also implement guardrails to protect themselves and their data. Remember, AI can be helpful, but it’s not always the game-changer marketers espouse — at least not yet.
Editor’s note: Chris Wright is co-founder and partner at Sullivan Wright Technologies, an Arkansas-based firm that provides cybersecurity, IT and security compliance services. The opinions expressed are those of the author.