Page 67 - LCNL Diwali Magazine

HAPPY DIWALI RAGHUVANSHI 2023 - 2024

The Rise of AI – artificial in name but profound in
Raghuvanshi 2018 - 2019 Happy Diwali

shaping our future

by Lord Jitesh Gadhia

The past year has seen an explosion in discussions about Artificial Intelligence (AI) and
its likely consequences. AI has emerged as a transformative force, with the potential
to revolutionise multiple sectors – both public and private – and propel the United
Kingdom into a new era of technological advancement. The significance of AI cannot
be understated; it is, without a doubt, the most influential ‘enabling’ technology of our
time.

Healthcare is one of the sectors that can benefit most from advancements in AI with
the promise to revolutionise medical processes and services. For example, AI-powered
diagnostics can aid in the early detection of diseases and improve accuracy, enabling
more effective treatments and ultimately saving lives. AI algorithms can analyse
medical images with remarkable precision, assisting healthcare professionals in identifying abnormalities that might
otherwise go unnoticed and AI-driven pathology streamlines the analysis of tissue samples, expediting diagnosis and
providing crucial insights into disease progression.

AI has also shown immense potential in various other sectors, such as finance, transportation, and education. AI-
driven algorithms optimise financial systems, enabling better risk management and fraud detection. Self-driving
vehicles powered by AI have the scope to revolutionise transportation, making it safer and more efficient. AI-
based educational platforms personalise learning experiences, catering to individual students’ needs and enhancing
educational outcomes.

However, alongside the unprecedented opportunities, AI also brings significant challenges. Concerns about data
privacy, bias in algorithms, the dissemination of misinformation, and security threats demand vigilant attention.
The rapid advancements in AI have outpaced existing regulatory frameworks, necessitating agile and adaptive
governance to mitigate potential risks effectively and avoid unintended consequences.
Collaboration on an international scale is critical to addressing this challenge. The UK can play a pivotal role in
fostering this international cooperation. So, it is welcome that Prime Minister Rishi Sunak is convening a Global
Summit on AI Safety in November 2023, just ahead of Diwali.

One recurring concern is the potential impact of AI on the employment market. While AI has the potential to
enhance productivity and efficiency, there are legitimate fears about job displacement and inequalities in wealth
distribution. Ensuring our workforce has the necessary skills for the AI-driven economy of the future is imperative.

AI’s influence on information integrity and journalism is also of paramount importance. The rise of AI-generated
content has raised questions about authenticity and reliability. Addressing deepfakes and synthetic media requires
robust regulations that safeguard against the misuse of AI-generated content and ensure adherence to ethical
standards.

The coming years will be crucial in determining the future of AI, and the UK must seize this historic opportunity
to drive progress, innovation, and societal well-being through a well-crafted regulatory environment. No country
or company can shape the future of AI alone. Only with the combined focus, ingenuity, and cooperation of the
international community will we be able to fully and safely harness the potential of AI. By taking such a proactive
and multilateral approach we can simultaneously manage the risks and unlock the full potential of a transformative
technology which will undoubtedly shape all our futures in the coming years and decades.

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