Artificial intelligence (AI) is transforming global economies, but its rapid growth raises concerns about potential economic instability.
While AI promises improved efficiency and security, experts warn of privacy, ethics, and misinformation issues.
Research shows that companies using AI for automation might cut jobs during downturns, negatively impacting employment. Sebnem Ozdemir, head of the Data Science Department at Istinye University, emphasized understanding specific AI types to assess risks.
Data-driven AI can lead to unfair competition and transparency issues, and black box AI systems are particularly concerning due to their opaque decision-making processes.
Generative AI technologies, such as GPT and large language models (LLMs), pose risks of generating false information. Despite their design to simulate knowledgeable humans, these AI tools can make significant errors.
Ozdemir noted AI’s advantages, such as increasing company profits and market dominance, but stressed the need for proper data training to avoid biased outcomes. She highlighted that AI cannot fully replace human workers yet, and the expertise of AI trainers is crucial. While AI systems for financial expertise are developing rapidly, human oversight remains necessary for the foreseeable future.
The Federal Reserve is expected to lower interest rates, which could benefit Bitcoin (BTC) and other cryptocurrencies.
Chris Larsen, co-founder of Ripple, has added his name to a distinguished list of business leaders endorsing Vice President Kamala Harris for the 2024 presidential election.
Despite investor hopes, the Federal Reserve is unlikely to implement substantial rate cuts in the near future.
In August, the U.S. job market grew at a slower pace than anticipated, adding 142,000 positions compared to the forecasted 161,000. This figure represents a drop from July’s 89,000 new jobs.