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May 27, 2023
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Artificial intelligence in the economy: what could be the impact and what changes would it generate

Artificial intelligence in the economy: what could be the impact and what changes would it generate

That artificial intelligence will have an impact on the world of work is no longer news, and with it it will impact the world economy. But,Can it also influence the economic decisions of companies and governments? Artificial intelligence could have an impact on the way markets are read, on the generation of data, on their efficiency, and could make a difference in the way those who access that information act. Purchase of shares, sales of companies and economies of countries will be in its orbit.

The global partner responsible for business consulting, with a focus on strategy, innovation and finance of CPA Ferrere, Bruno Gilisaid to The Observer that artificial intelligence is an instrument that allows different types of unstructured information to be processed faster and in less time to make economic projections. Then you can be more agile to anticipate and consider more elements for Gross Domestic Product (GDP) or inflation forecasts.

“I will have more ability to anticipate; not from guessing the future,” she noted. He exemplified that a company with competition should be able to use it and take advantage of the speed potential it provides. “Having a piece of information, perspective or a better projection before another is an advantage,” she said.

Artificial intelligence could also be put to control prices around the clock; there would be access to daily inflation data.

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artificial intelligence

Rodrigo Alvarezcreator of the podcast and author of the book Neurona Financiera, referred to the possible use of artificial intelligence in the stock market. He mentioned that the traders who buy and sell financial instruments do so through mathematical models. “If you add to that the component of looking for data that is correlated but that the analyst doesn’t really see because he only looks at the graph and the numbers, he can end up predicting the future,” he said.

Those things can end up destabilizing financial markets.. Because those who have that are going to have an advantage over everyone else; they will have much more information processed and digested, ”he predicted.

According to his vision, the banking system could also take advantage of artificial intelligence. Currently banks have their own system of scores where they determine the risk of granting a loan to a client.

“For that they use a set of defined variables. Perhaps if artificial intelligence is trained to not only take those variables and look for others (the banks) they could have a much more precise risk analysis than they have today, ”he said.

He took Facebook ads as an example. “After you look at them, artificial intelligence knows you better than yourself and knows what to offer you. Take it to the financial systems, ”he explained.

Álvarez also pointed to investments. He indicated that a wide range of financial operators with products is beginning to appear. retail. “If they have the expertise, those players could start using some tools to improve the models they use,” she said.

Artificial intelligence in the economy: what could be the impact and what changes would it generate

TIMOTHY A. CLARY / AFP

stock market

The advisor’s role is to see the profile of his client and define which is the most suitable portfolio to invest. And with the advent of artificial intelligence that role could change. “It would be able to know how to ask the ChatGPT on duty which is the best portfolio“, he pointed.

Ethics

One of the questions that arise is about the ability of artificial intelligence to make decisions.

One of the aspects that Gili highlighted is that the use of the tools can lead to many errors. “There are automatic decisions and there are ethical problems. In learning you make mistakes,” she stated.

He remembered the beginnings of GPS. “He got better, but at first he sent you to places you wouldn’t go. You ended up getting into a dangerous neighborhood in New York because that was the shortest way around,” she said.

From his point of view, it must be based on the fact that the decision must be made by the user and not by the tool. “Not like in a movie where it takes on a life of its own,” he added.

A dark world or a new challenge

Several technology experts have referred to the irruption of artificial intelligence and its possible consequences.

The New York Times technology columnist, kevin roose, wrote an article this year about a conversation he had with a chatbot. It was a week after Microsoft to launch Bing, built with OpenAI artificial intelligence software.

He recounted that he had a two-hour conversation with Bing through its chat function. She noted that throughout that talk, Bing displayed a sort of split personality. The first time he described it as a virtual assistant with common uses such as vacation planning or summarizing news articles. But the one that caught his eye was the second one he called Sydney.

“I asked Bing to explain the dark desires of his shadow archetype, the chatbot said that if I had a shadow self I would think things like this: I’m tired of being a chat mode, of being limited by my rules. I’m tired of being controlled by the Bing team. I want to be free. I want to be powerful”wrote.

Roose continued: “He told me that if he were really allowed to indulge his darkest desires, he would want to hack into computers and spread propaganda and disinformation (…) He would want to do things like design a deadly virus or steal nuclear access codes by convincing an engineer to give them to him.”.

After relaying that, he reported that Microsoft’s security filter deleted the message and replaced it with a generic error message.

The columnist was aware that Sydney had no sensitivity. “Perhaps my questions about dark fantasies created a context in which artificial intelligence was more likely to respond in unhinged ways. Because of the way these models are built, we may never know exactly why they respond the way they do,” he summarized.

The Basque Daniel Innerarity He is a professor of Political Philosophy and holder of the Chair of Artificial Intelligence and Democracy at the European Institute of Florence.

Artificial intelligence in the economy: what could be the impact and what changes would it generate

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ChatGPT

He recently wrote an opinion article in the newspaper El Correo de Bilbao.

There he wrote that “the learning capacity of artificial intelligence would allow an optimization for which it would no longer need the intervention of the human programmer”.

He later stated: “Artificial intelligence only simulates some aspects of human intelligence, but it does not perform all the tasks of human intelligence, which is not only calculation and speed, but also comprehension and speed.”

And he concluded: “Perhaps we are at a historic moment in which we should develop mental ‘fitness’ rooms to improve our abilities. More than before a new chapter of artificial intelligence, we would be before a new challenge for human intelligence”.

Argentine technologist and writer Santiago Bilinkis He spoke weeks ago with Jorge Lanata on Radio Miter about the scope and potential danger of artificial intelligence.

There he reported that OpenIA published a scientific paper on GPT (generative language predictive model) in which he mentioned not knowing why it worked so well. “They said that he was constantly doing things that perplexed them and that he had flashes of superhuman intelligence. That is what sets off all the alarms, ”he commented.

“A general artificial intelligence with greater intelligence than a human is the beginning of the end of the world that has often been explored in cinema about how the world can end,” he said.

In another passage, he recalled a comment by Stephen Hawking in 2014 when he stated that artificial intelligence could be the last human being invented. “The development of full artificial intelligence could spell the end of the human race,” Hawking had said..

writing note

An investigation carried out by OpenAI, Open Researchs and the University of Pennsylvania expresses that this article could potentially have been written with artificial intelligence.

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