The Promising (Bleak) "Future" of AI

Artificial intelligence, or AI, has been promoted as "the next big thing," or the next impactful invention in human history. Despite this optimistic image for AI, so far its implementation has only done harm.

Many large U.S. companies have arrived early to the AI game. Amazon, for example, has tested AI algorithms in its product Alexa. Also, Apple has integrated AI into its devices to provide for an easier experience for users.

Despite these revelations in technology, these companies were far from the hype. In the Q2 economic period alone, majority of large tech companies using AI software in its products experienced significant losses in profit, sending shockwaves across the stock market.

Tesla, a large user of AI in its electric vehicles, saw a 45% drop in profits between April and June. Apple reported significant lower profits from its iPhones, and Amazon fell behind its projecting earnings by over one half-billion dollars. Nvidia, a key AI chip manufacturer, has yet to report earnings, but many investors are selling amid fears of lower revenues than projected.

Why is AI performing so bad compared to its expectations? One reason why is its momentum in the market. Many consumers, without very much money to spend, cannot afford the very expensive commodity that is AI. For now, the price of devices and chips using AI is very expensive as it is a relatively new invention, and companies have not yet perfected its production.

Also, AI has sparked a variety of fears by both consumers and investors, large companies' biggest sources of revenue. It has already posed risks to honesty in work, as it can produce what most humans could, as well as it having a bias for certain contents which many find uncomfortable. For example, one hearing found that some AI can risk promoting pornography to users. Furthermore, AI is a threat to the job market of the future which puts many people's careers on the line, causing some to oppose AI.