MOLINE, Ill. — Artificial intelligence is quickly becoming more and more ingrained in our daily lives. But do Americans trust this rapidly growing expansion of technology? According to a recent survey by MITRE-Harris, just 39% of Americans believe artificial intelligence is safe and secure.
David: Why is there so little trust in how we perceive this advancement in artificial intelligence?
Mark: There have been quite several instances where we’ve seen AI used for malicious purposes. 82% of Americans are expressing concerns about AI being used for malicious intent. Unfortunately, we’ve seen AI being used:
- To alter and manipulate photographs.
- Create biased results.
- To spread disinformation.
But even when that AI is free of manipulation, its output can sometimes be incomplete or inaccurate. So, it’s hard for Americans to trust AI technology when they see so many instances of deception or inaccuracies.
David: What do you think can be done to improve the level of trust among Americans?
Mark: The overwhelming majority (85%) of Americans want adequate regulation and controls over AI to provide consumer protections to ensure this powerful technology isn’t used for malicious purposes. Their top concerns are that AI could be used for:
- Cyberattacks
- Identity theft
- Sale of personal data
- Lack of accountability for those creating AI
- Deceptive political ads
AI is a technology that’s growing so fast- and there’s a sense that AI is almost like the Wild West, where anything goes and there are no rules or accountability. And it just creates a sense of vulnerability for many Americans and therefore they simply don’t trust it.
David: Who does the public trust more to provide some level of oversight and consumer protections over AI?
Mark: When you look at all the polling and survey data there’s not a lot of trust to have either these big tech companies or government to provide exclusive oversight over AI. Where there’s more acceptance is a partnership between the tech industry and the government to ensure there are adequate consumer protections.
If I were these big tech companies, I’d do everything possible to ensure proper controls. Because we’ve seen the chaos before in uncontrolled innovation- I’m referring to the cryptocurrency industry. For many years it truly was the Wild West and the industry was rampant with fraud, theft and corruption. And I think it’s really tarnished its image among the general public.
So, my word of caution to the tech industry is the sooner you start to alleviate the public’s fear and apprehension over AI, the more likely they are to accept it.
Quad Cities Investment Group is a Registered Investment Adviser. This material is solely for informational purposes. Advisory services are only offered to clients or prospective clients where Quad Cities Investment Group and its representatives are properly licensed or exempt from licensure. Past performance is no guarantee of future returns. Investing involves risk and possible loss of principal capital. No advice may be rendered by Quad Cities Investment Group unless a client service agreement is in place.
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