On the Rise of AI Machines

 Photo by  Luca Bravo

Photo by Luca Bravo

  • Last week, the U.S. Congress released the report “Rise of the Machines: Artificial Intelligence and its Growing Impact on U.S. Policy” which said, “First, AI is an immature technology; its abilities in many areas are still relatively new. Second, the workforce is affected by AI; whether that effect is positive, negative, or neutral remains to be seen. Third, AI requires massive amounts of data, which may invade privacy or perpetuate bias, even when using data for good purposes. Finally, AI has the potential to disrupt every sector of society in both anticipated and unanticipated ways. In light of that potential for disruption, it’s critical that the federal government address the different challenges posed by AI, including its current and future applications.

  • While AI is most closely associated with Silicon Valley and Hollywood, various industries have already deployed the technology. For example, AI is now used in connection with mapping applications or “apps” on mobile phones, tax preparation, song writing, and digital advertising.  It is also being used in video games and movies to create special effects. More recently, the Food and Drug Administration approved an AI algorithm that aids radiologists in detecting wrist fractures. The State of Ohio uses robotics in the Bureau of Criminal Investigation laboratories to help reduce the turnaround time on untested rape kits. The application of AI facilitated the state testing 14,000 previously untested rape kits and identifying 300 serial rapists linked to 1,100 crimes.

  • given the actions taken by other countries—especially ChinaCongress and the Administration will need to increase the time, attention, and level of resources the federal government devotes to AI research and development, as well as push for agencies to further build their capacities for adapting to advanced technologies.”


OUR TAKE

  • In the short term, a scarcity of AI skill will constrain the market’s growth. Addressing the problem will require more training in math, statistics, and data science.

  • Establishing competitive advantage with AI solutions depends on the ability to access and analyze large data sets – which will require balancing commercial interests and personal privacy rights

  • AI driven products and services will continue to evolve from addressing discrete tasks to more broad-based solutions that will reshape industries and economies. 

FPM Team