Week 4 Barriers to AI's success/ Ch 7/8

AI has had a lot of success since it has become widespread across the world, and many companies realize the potential for growth and impact it can have on their companies. A survey done by Forrester stated that a little more than 60 percent of companies consider AI very important to their strategy and room for future growth. The same 60 percent of companies plan to invest more in AI up to 10 percent in the next 12 months. More than half the companies have seen the AI technology enhance their customer experiences and help with product development. The article did state that roadblocks are still there which make companies a little unsure of the new technology. Some of these include things like biases and hallucinations which occur within the technology. AI could increase global profits up to almost 5 trillion dollars for companies and that is why these companies are so invested in it despite the barriers. This article was written in 2024; AI has become even more prominent since then and there is no telling how much more profits it can bring companies globally.

Chapter 7 talks about job displacement and the extinction of some jobs. This takes place when AI can complete jobs better and more efficiently than humans. There are many jobs where this at risk of happening and companies won't shy away from it because it can help them majorly in different areas of the business. Chapter 7 also talks about how jobs may evolve because of AI. Just because one job may be taken away it could evolve into different role for the employee. One which requires critical thinking that AI can't replicate. And as stated in a previous post made by me AI can also create many jobs for people. This takes away from some of the stress and worry about jobs being replaced because it is creating jobs as well. It also proves the point that it is critical to have a good understanding of AI and how it works.

Chapter 8 talks about some of the ethical concerns of the implementation of AI within companies. Some of these include the factor of job displacement which has many people worried. Another factor is the bias that occurs within AI. These biases can be eliminated by changing and enhancing algorithms, so this doesn't occur. These are just a few of the ethical concerns and is crucial we take these into account with how prominent AI is becoming.