AI Associated Risks & Mitigation



You may have read about the dangers of AI (signified attempts made by innovators like Elon Musk and others to slow its progress). The rationale is the fear that if we move too fast without oversight, jobs may be lost, chaos will take place, even AI may take over! Well, Hollywood movies have been made! but we have not reached that point! Though there is some merit in the argument that if we are not careful, there is potential danger!

Actual Risks:

We should identify risks like with any new technology (remember the fear of cloud computing!). For a common user, potential risks of using an AI chatbot include inaccurate information and data vulnerability. This could be due to a variety of factors, such as errors in the chatbot’s programming or limitations in its ability to understand natural language.

And yet another serious risk is the currency of the database used. One AI model has information only till September 2021, so while its very fast and can help users increase their productivity the moment it is given a question which involves current data, like say current mortgage rates, it’s bound to give misleading results-though there is a qualification in the end.

Mitigating Risks:

Organizations can test chatbot accuracy, implement security measures such as encryption and authorized access, and be transparent with users about data collection and use. Lastly regularly monitoring the chatbot for any signs of suspicious activity would also minimize risks and ensure user safety.