ECONOMIC AND SOCIAL IMPACTS OF AI Flashcards
How is AI fundamentally different from previous technologies, and what challenges does this pose for regulation?
AI operates with a higher level of autonomy, learning from data and making decisions without explicit human intervention.
This makes it challenging to predict AI’s behaviour and establish clear lines of responsibility for actions taken by AI systems, particularly in criminal contexts.
Regulators must grapple with the “black box” problem, where the reasoning behind AI’s decisions is often opaque and difficult to understand.
State the 3 main economic impacts for countries.
The AI divide will be reinforced
The gap between leading countries and developing countries will be widened
Retraining will become a critical issue
State the 2 main economic impacts for companies and the main economic impact for workers.
The performance gap will be widened between front-runners and non-adopters
Use AI for labour augmentation or substitution of production factors
More jobs will be displaced by AI
What are 6 skills workers can develop to adapt to the changing job market due to AI?
Embrace lifelong learning
Develop “T-shaped” skills: Combine deep expertise in a specific field with broad knowledge in other areas, particularly AI, to create unique value and opportunities.
Consider double majoring or minoring
Take advantage of online courses
Explore freelance and remote work
Reframe the meaning of work
State 4 social conflicts that might arise due to AI.
Intellectual Property of AI
Hallucination
Data Privacy Concerns
Cybercrimes
Aside from tech issues, what are the issues companies need to address to adopt AI in business?
Black box problem
Consumer reaction
Regulation
Ethical issues
What is hallucination?
Hallucination: A well-known phenomenon in large language models, in which the system provides an answer that is factually incorrect, irrelevant or nonsensical, because of limitations in its training data and architecture.
Why is hallucination a concern?
Hallucinations, while sometimes seemingly harmless, highlight the risks of over-reliance on AI systems without proper testing and oversight. They can lead to the spread of misinformation and potentially harmful consequences
How can the economic theory of crime, as proposed by Gary Becker, be applied to AI-enabled cybercrimes?
Becker’s theory posits that criminals act rationally, weighing the benefits of crime against the costs (probability of apprehension, conviction, and punishment). AI could lower the perceived costs of cybercrime by making it easier and faster to commit while reducing the risk of detection
How can cybercrimes be carried out using AI?
Used to create realistic-sounding speech for use in phone-based social engineering attacks
AI can produce fake text-based content and manipulate images
Used as a tool for identity theft by deepfakes
Leverage AI tools and harvest personal data to monitor, control, and coerce its own citizens
What are the three key values to be protected when adopting AI?
(1) Safety and security
(2) Ensuring diversity and inclusiveness
(3) Promotion of human rights and fundamental freedoms and human
How can AI regulations enforce safety and security?
To prevent AI-facilitated identity theft, regulations could mandate robust security measures for AI systems that handle personal data.
Stronger penalties for misuse or unauthorized access to such data could deter criminal activity.
How can AI regulations ensure diversity and inclusiveness?
Regulations should require bias assessments for AI systems used in law enforcement, ensuring that they do not unfairly target certain groups based on race, gender, or other protected characteristics.
How can AI regulations protect Human Rights and Fundamental Freedoms?
Strict regulations on government use of AI for surveillance are crucial to protect individual privacy and prevent abuse.
Transparency and accountability mechanisms are needed to ensure that AI-powered surveillance is subject to appropriate oversight and legal safeguards.
What are the 4 challenges in establishing effective AI crime regulation?
Rapid pace of technological advancement
Global nature of AI
Dual-use nature of AI
Lack of technical expertise
