Innovations in artificial intelligence (AI) continue to reshape the future across industries, driving advancements in big data, robotics, IoT, and generative AI. As we enter 2024, enterprise-scale companies are increasingly deploying AI in their businesses, with a staggering 42 percent already leveraging this technology. By 2028, nearly 92 percent of companies plan to boost investments in AI technology.
The Evolution of AI
From its humble beginnings in 1952, when Christopher Strachey wrote the first documented success of an AI computer program, to IBM's Deep Blue defeating chess grandmaster Garry Kasparov in 1997 and Watson winning Jeopardy! in 2011, AI has come a long way. The latest chapter in AI's evolution is generative AI, spearheaded by OpenAI's release of the first GPT model in 2018. This has given rise to tools that can process queries to produce relevant text, audio, images, and other types of content.
How AI Will Impact the Future
Improved Business Automation
Generative AI has already accelerated task automation for many businesses, and this trend is likely to continue. With the rise of chatbots and digital assistants, companies can rely on AI to handle simple conversations with customers and answer basic queries from employees. AI's ability to analyze massive amounts of data and convert its findings into convenient visual formats can also expedite decision-making processes.
Job Disruption
Business automation has raised concerns over job losses, particularly in repetitive jobs like data entry or processing and customer service. However, the demand for other jobs like machine learning specialists and information security analysts has risen. Creative positions are more likely to be augmented by AI, rather than replaced entirely. This shift will prompt upskilling efforts at both individual and company levels.
Data Privacy Issues
The proliferation of generative AI tools relies on large volumes of data, which has raised concerns over companies collecting consumers' personal data. The FTC opened an investigation into OpenAI's data collection methods in 2023 after the company potentially violated European data protection laws. In response, the Biden-Harris administration developed an AI Bill of Rights in October 2023 that prioritizes data privacy.
Increased Regulation
The development of generative AI has also led to concerns over intellectual property and ethical issues. The Trump administration's AI Action Plan unveiled in 2026 emphasizes a largely hands-off approach to AI regulation, but growing pressure may prompt the U.S. government to take a stronger stance on AI-related legislation.
Climate Change Concerns
AI is poised to have a significant impact on sustainability and climate change. On one hand, AI can optimize supply chains, perform predictive maintenance, and reduce carbon emissions. On the other hand, the energy and resources required to create and maintain AI models could raise carbon emissions by as much as 80 percent, potentially negating any positive effects.
As AI continues to transform industries and society at large, it's crucial for businesses, governments, and individuals to stay informed about its potential applications, implications, and challenges.