
More than 60% of global marketers optimistic about business in 2024
While marketers in many countries are worried about a recession, there is also optimism regarding the business climate and marketing budgets.
ARTIFICIAL INTELLIGENCE
By our News Team | 2023
An increase in fake reviews and false information, as well as flouting of consumer protection laws, are all possible results of the AI boom.
Britain’s competition watchdog has warned that the AI boom may not bring as many positives as people hope. Rather, there will be increased risks around fake reviews, fraud and a rising tide of misinformation.
The Competition and Markets Authority is also concerned about a small number of AI companies becoming entrenched and dominant players in the sector, which could lead to less consumer privacy and the flouting of consumer protection laws.
Photo by Possessed Photography on Unsplash
“We can’t take a positive future for granted,” the Chief Executive of the CMA, Sarah Cardell, said this week, as the CMA published its report on AI Foundation Models.
“There remains a real risk that the use of AI develops in a way that undermines consumer trust or is dominated by a few players who exert market power that prevents the full benefits being felt across the economy,” added Cardell.
Creative industries also at high risk
In a statement discussing the report, the Competition and Markets Authority said intellectual property and copyright were also important issues. Authors, news publishers and the creative industries had all raised concerns over uncredited use of their material in building AI models.
According to the organisation, it is essential that the AI market does not fall into the hands of a small number of companies, with a potential short-term consequence that consumers are exposed to significant levels of false information and AI-enabled fraud.
In the long term, it could enable firms that develop foundation models to gain or entrench positions of market power, and also result in companies charging higher prices for using the technology.
According to news agency Reuters, the Competition and Markets Authority, is, like other authorities around the world, trying to control some of the potential negative consequences of AI without stifling innovation.
While marketers in many countries are worried about a recession, there is also optimism regarding the business climate and marketing budgets.
US industry body warns marketers to be vigilant as programmatic media is ‘complex’ and ‘can be non-transparent’.
Dentsu says big events like the Euro 2024 soccer finals and US presidential election will help to push up spending.
Look for transparency, check results of previous projects, and request an air-tight scope of partnership, advises industry expert.
AMC’s range of Short Courses is designed to complement the study and career-growth initiatives offered by our member countries.
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Dr. Kin Kariisa is an extraordinary force at the helm of Next Media Services, a conglomerate encompassing NBS TV, Nile Post, Sanyuka TV, Next Radio, Salam TV, Next Communication, Next Productions, and an array of other influential enterprises. His dynamic role as Chief Executive Officer exemplifies his unwavering commitment to shaping media, business, and community landscapes.
With an esteemed academic journey, Dr. Kariisa’s accolades include an Honorary PhD in exemplary community service from the United Graduate College inTexas, an MBA from United States International University in Nairobi, Kenya, a Master’s degree in Computer Engineering from Huazong University in China, and a Bachelor’s degree in Statistics from Makerere University.
Dr. Kariisa pursued PhD research in Computer Security and Identity Management at Security of Systems Group, Radboud University in Nijmegen, Netherlands. As a dynamic educator, he has shared his expertise as a lecturer of e-Government and Information Security at both Makerere University and Radboud University.
Dr Kin did his PhD research in Computer Security and Identity Management at Security of Systems Group, Radbond University in Nigmegen, Netherlands. He previously served as a lecturer of e-Government and Information Security at Makerere University in Kampala, Uganda and Radbond University in Netherlands.
Dr Kin did his postgraduate courses in Strategic Business Management, Strategic Leadership Communication and Strategies for Leading Successful Change Initiatives at Harvard University, Boston USA.