A huge thank you to all who contributed in making this happens. This is the third part in the series of articles which discusses about digital banking and everything related to it says William D King. Every business has to follow suit with time and there are certain best practices one has to keep in mind while doing so. I will be discussing these best practices for digital banking in my upcoming publications very soon! Stay tuned!
This article here focuses on Artificial Intelligence (AI). We all know that Artificial Intelligence is what will shape our future lives, at least when it comes to technology. So how does AI work? Well, if you ask me, even I can explain this. Learning patterns by using algorithms is what AI is all about.
Now, if we talk about Artificial Intelligence in terms of digital banking specifically, then there are two types of processes that should be used to achieve the best possible results.
They are as follows:
2) Machine Learning Algorithms
If you want to go technical, then I will suggest reading Machine learning (Stanford University). And if you want to know everything else related to AI but in layman terms, then check out this video here.
There’s a lot more information available online which could help you have a better understanding of how AI works and what it can do for us. So without further ado, let’s get started.
1) AI as A Threat to Our Safety:
No matter how much we talk about the positives of Artificial Intelligence or if we choose to ignore it because it isn’t that big a deal to us (at least at this point), there are certain people out there who believe that sooner or later AI will be used against us and it will become an irreversible threat to humanity as we know it. This may sound like something straight out of a science fiction movie but, unfortunately, these fears are not coming from anywhere.
According to Stephen Hawking (A renowned scientist) and other researchers working in the same field, “we cannot quite know what will happen once machines reach and surpass human intelligence.” He believes that the rise of Artificial Intelligence might prove to be a menace to our existence and it might cause us “hard times.”
Don’t get too alarmed; I am not saying that we will be kill by robots in 2020 or something, but there is no denying the fact that Artificial Intelligence will prove to be a true challenge for humanity says William D King. The biggest reason behind this fear is that, nobody knows if or when AI would become conscious and takes over the world on its own; we all know how scary of an idea this can sound.
2) How Dangerous Can It Become?
We already know what kind of damage one malicious person can do with artificial intelligence. In 2016 alone, about 147 million people had their personal data stolen from various data breaches which included credit card information, passwords etc. And this number is not something to be lightly.
There are certain fears that machines may become self-aware in the future, which mean they could also develop feelings and that’s not all. They will also have a consciousness of their own which makes them capable of making decisions on their own without human intervention. So if something like this were to happen, then it would be really dangerous because there are chances that these machines might play God with humanity at its worst!
3) The Threat of Unfettered Growth:
When Stephen Hawking talks about Artificial Intelligence, he basically means “unfettered growth.” He believes that the race towards developing regular AI systems will go too far without any checks and balances. He also says that the acceleration of technological singularity will lead to very fast growth in which humans might not be able to control at all explains William D King.
While there is a whole lot of discussion going on around Artificial Intelligence, not a single person can claim with certainty that AI will prove to be a threat or a boon for humanity. But even if people like Stephen hawking are right, then it doesn’t mean that AI would become conscious and take over the world in 2020 (I hope).
So my suggestion is that we should work towards a common goal. Of making Artificial Intelligence more beneficial to humanity as opposed to making it a threat. There are certain people out there who believe they can control AI but my advice is not to trust them completely. Because you never know how things may turn out for us in the future.