The recent wave of technological disruptions however is more than just a bump up in specifications. Instead, it gives everyone access to business tools that were available to only a small number of wealthy corporations just a few years back.
Distribution of Wares Directly And Globally Made Easy
Remember the early days when merely creating a decent webpage required advanced knowledge of HTML? Otherwise, the alternative of hiring someone to build it would mean a significant upfront investment. Today, you can simply build and launch a site for your latest business idea using Wordpress and other similar visual website builders, all within a day. Or, easier still, set up a business pro le on one of the major social media platforms. Crafting a compelling online storefront for prospective customers is now entirely accessible to anyone with the abundance of free or open-source solutions.
Marketing Your Brand Worldwide at Affordable Cost
Those who still own a TV may have noticed that advertisements running during commercial breaks come mostly from large, well-known brands. This is because airtime on television remains incredibly expensive. Other traditional forms of marketing like buying print ads or classified announcements in magazines or newspapers are also beyond what most small businesses can typically afford. However, platforms such as Google, Facebook, LinkedIn, Twitter and others have changed the game entirely. Not only do they allow anyone to promote their work for literally a few dollars, businesses can also choose to target people most likely to be interested in what they have to offer – linking them directly to prospective customers.
Operating Your Business Efficiently and Effectively With Tech
Then there’s the nitty-gritty of running the business. On one hand, office operations such as accounting, invoicing and inventory management may sound trivial; on the other – how many potential entrepreneurs were turned off by the prospect of having to deal with these labour-intensive, expensive and tedious tasks?
AI applications should respect and protect user privacy; decisions made by AI should be fair, unbiased and explainable to human beings; and for the purpose of accountability, responsibility attribution should be possible if something goes wrong.
Figuring out What is Right
With trade volumes being three times more than the nation’s Gross Domestic Product (GDP), revolutionising the way trade documents were processed held promise of great returns. Hence, it naturally became an area of focus for CrimsonLogic.
Getting Buy-into Best Practices
The Association for the Advancement of Arti cial Intelligence (AAAI) has also teamed up with the Association for Computing Machinery (ACM) in 2018 to organise the AAAI/ACM Conference on Arti cial Intelligence, Ethics, and Society (AIES)3. The Conference provides a platform for AI researchers and social scientists to come together and work out interdisciplinary solutions to ethical challenges in AI applications.
Taking Positive (Not Limiting) Actions
However, without waiting for ethical AI technologies to be ready, the legislative landscape has already evolved. In 2016, the European Union (EU) established one of the most stringent privacy protection laws targeting AI applications with the General Data Protection Regulation (GDPR). The GDPR speci es many terms aimed at protecting user privacy and prohibiting organisations from exchanging data without explicit user approval. Similar laws have also since emerged in China and the US. These harsh legal environments threaten to impede AI development by making it infeasible for different companies who own diverse types of user data to collaborate and build new business.