Reassuring Ethical, Social and Economic Implications of AI Technologies

Artificial Intelligence (AI) is a digital technology that has significantly impacted the development of humanity. The convergence of the availability of a vast amount of big data, speed and scalability of cloud computing platforms, and the advancement of sophisticated machine learning algorithms have given birth to an array of innovations in Artificial Intelligence (AI).

The term artificial intelligence has been around since the 1950s although its full implication came almost four decades later. The twenty-first century is the time when AI saw emerging applications and technologies that helped people shape their lives to the modern era. Ultimately, in recent years, AI has seen unprecedented growth. The beneficial impact of AI systems on government translates into improving healthcare services, education, and transportation in smart cities. Other applications that benefit from the implementation of AI systems in the public sector include food, supply chain, energy and environmental management. It's quite evident that AI is impacting every aspect of our society and is bringing a breakthrough of changes in the economic sector.

However, when something is exponentially excessive, the debate on what it could cause in future starts echoing. European Union, one of the largest unions with 27 well-developed member countries talked about whether or not AI will require a reinforced legislative framework.

AI Parameters Discussed by EU members

The European Union, after rounds of discussion and considering AI as an ever-present part of the committee, decided to create a Special Committee on Artificial Intelligence in the European Parliament. The EU has also released a strategy on AI development in research & development.

The committee's main goal is to assist in creating a harmonised legal and ethical framework that protects the ethical, social and economic implications of AI. Derailing from the ethical issues even while following the rules is one of the major challenges that AI is facing today. Hence, the committee has taken an initiative to put guidelines on the ethical front without giving obstructing the adoption of innovation, technological development and European competitiveness in the process.

When a committee that functions across nations take up the job to put boundaries on AI, it has the responsibility to ensure the adequate involvement of contributors starting from stakeholders to lawmakers of the industry and citizens. The implications are designed to not hurt the numerous incentives needed to boost the industrial AI capacity and the ethical aspects of the technology.

People and government across the globe have recognised the limitless potential of AI. However, it is essential to be aware of how it can be used under different circumstances. Whether it is mythically exploited or not, there are certain risks like threatening of privacy, freedom of choice and even the quality of democracies that matters. Setting guidelines for AI will mark a milestone in tech history and provide a view on what should and shouldn't be done under the name of exploring AI.

Like how companies are gradually improvising the use of AI in its workplace and making employees experts, the committee has taken steps to give everyone a basic understanding of AI and its different uses. This will soon make individuals well versed in AI. Programmes for educating and up skilling of citizens will be society's first line of defence against the abusive use of AI.

Women may be starting to enter the tech industry in huge numbers today, but so far, they were suppressed under cultural reasons and stayed away from the growing sector. The EU's special committee shows a particular attention to the engagement of women in AI and related technologies. They hope this to wipe out the gender gap.

Slowly, governments across the globe are looking for ways to include AI and its ethical framework in the legal system. Some countries have included AI in their budget allocation for improvement. When the world is moving towards an unstoppable era of growth, it is good to have guidelines that keep techies on the path.