The rise of artificial intelligence: Does humanity have a revolutionary yet double-edged weapon?

Lubos Komarek and Michaela Rysava

A chapter in CNB Global Economic Outlook - March 2024, 2024, pp 14-20 from Czech National Bank, Research and Statistics Department

Abstract: In today's world, in which artificial intelligence (AI) is making such rapid strides, we are seeing both promising opportunities and significant challenges. AI, which runs the gamut from basic reactive machine AI and sophisticated limited memory AI, to advanced generative models, is transforming both the industrial and social environments. While AI's economic impacts promise efficiency gains and the potential to solve complex global challenges, we must not overlook the ethical, security and social issues it brings. The growth of AI is giving rise to a debate about regulation, privacy protection and the impact on the labour market, where automation could lead to changes in the very nature of employment. In this context, it is essential that the development of AI be accompanied by carefully considered regulation and an ethical approach that strikes a balance between technological progress and the protection of fundamental human values.

Date: 2024
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