How AI is Changing Your Future (Whether You Know it or Not)

Future of FinTech
How Artifical Intelligence is Changing Your Future (Whether You Know it or Not) | Student FinTech

Artificial intelligence, or AI, is an advancing technology that has been with us for a long time. But only recently has its power been revealed through the many recent inventions that have come forward in the public arena. The tech world is constantly changing and AI has gotten smarter, faster, and more efficient than ever before. 

But is this always a good thing? 

Artificial intelligence has made life easier. It allows you to shop online and have a virtual bot talk to you as though it were a real person. You can ask it questions like you would a friend about certain products or other questions you have about a company’s policies. It answers back in a web chat and even asks you if you have any other questions. But there’s something stoic about the responses. Then you notice that the bot is repeating what it has already said. 

“I am here to help you with whatever you need,” it says for the third time. Then any idea that you had previously that you were talking to a real person evaporates when you realize you are not talking to a human. 

AI offers automation, convenience, and speed. But what do we sacrifice in return? 

Independent Thinking

AI bots and automation may make life easier in many ways but it takes away your ability to think for yourself in the situation you are involved with. If you are shopping on a site with AI bots, there are often so many suggestions from the AI bot or shopping assistant that you may become confused about what you really want to do.

Interactions With Humans

When you are using AI to communicate on a site or in educational settings such as on a college campus, there are times you need to talk to a real person. If the site you are interacting with has turned over too many things to automation or AI, you will not be able to speak with a real person who might be empathetic toward your situation. Remember AI bots are not capable of “feeling” or having emotion. They only “simulate” this aspect of humanity.

Ability to Change Things in Your Account on the Spot

Bots and Artificial intelligence can answer basic questions that you ask and advise you on minor things. But they cannot usually change something you need to change in your account or do higher level actions. This has to be passed to a real person in most cases. So this can be frustrating if you are trying to deal with important things such as your Student debt or to obtain financing through Student Loans, for example.

Machine Learning Limited to Facts and Data Only

The basis of AI which is machine learning, is limited to facts and data that are in its database. It is not able to consider circumstances outside of the situation or to apply any sense of morality or “what is ethical.”

In conclusion, while AI and machine learning offers a way to make our lives more convenient, taking out the human element reduces the ability to talk to someone who may have more empathy for our situation and to provide a higher degree of help than a bot alone can do. 

In the future, it is predicted that AI will run our lives on an even higher level. There will be bots to get our mail, cook our dinner, read our emails, and vacuum our houses. We will hardly have to do any of these tasks by ourselves. 

The AI will have a database on all of us (they already have all they need) to control every aspect of our lives. So before we allow this kind of control to non-humans, we should ask ourselves, “What will we be giving up?” The answer is freedom. If you turn over everything to someone else or some machine system, you lose control of it. 

The key is to limit the control we give such machines to non-decision-making situations and to make sure you, as a human being have the ultimate authority of your own life. Computers don’t run the planet. You do.

They are a help to mankind but they will never replace mankind and, despite what some think, globalization is not the answer. China and others are hoping globalization will occur through the technology but that all depends on how people choose to use them. It is not inevitable. There are plenty of jobs that people will do that machines can not do. 

It is possible that, despite what people think now, AI will only elevate the human race to a higher level than before AI came along and machines will be left for the grunt work.