The following is the text from an article in Finans/Invest 3/2023 about how AI will affect us as consumers, businesses and investors. Link to the original article can be found at the bottom.
AI (artificial intelligence)
Our economies, financial systems and businesses will be quick and efficient at integrating AI because the opportunities are disruptive. But AI is particularly potent because it will impact almost every area of business and will challenge the business models of many companies. The biggest risk is however likely to be how difficult it will be for us to distinguish fact from fiction.Our trust will be challenged.
Disruptions lead to spin-offs between companies and new types of businesses. This provides investment opportunities. But with AI new types of risk also arise, especially within the Social and Governance dimensions of ESG. Furthermore, there is a risk that AI will become so powerful that it no longer sees the need to take humans into account.
The interest is enormous
In 1950, the English mathematician and codebreaker Alan Turing defined the criteria for AI as when you can no longer distinguish whether you're communicating with a human or a machine.
This happened in October 2022 on the language front when OpenAI released their language algorithm bot called ChatGPT-3. Users couldn't tell for sure if it was AI or a human at the other end, partly because it is capable of responding sarcastically. The only clue was perhaps that the language was too correct and the answers too balanced.
The fascination from users was huge and the success followed. In just 5 days ChatGPT gained over 1 million users (figure 1) and in 2 months more than 100 million. These are world records "by a long mile" and hint at the potential of AI in economies and financial markets in the coming years ....
Read the original article below (danish) - or click here for link to Finansforeningen