Artificial Intelligence: Increasing Business Profits at the Cost of Consumer Privacy

Abstract

Artificial Intelligence may be the most significant technological breakthrough since the development of computers. The promise of greater efficiency and effectiveness is very appealing, especially as that translates into more profitable businesses. The potential applications appear almost endless, crossing every industry and every form of business activity. The potential results cannot even be estimated.

Artificial Intelligence can assist in detecting misinformation, but it can also assist in spreading misinformation when faulty algorithms collect incorrect data. An example of this occurs when customer demographic data mixes information from consumers with the same names. Persons who frequently relocate may also be more likely to have faulty consumer data collected by business research companies. However, in our rush to be the first and the best, we must ask ourselves how much of our privacy we are willing to give up? In this paper, the authors examine this fascinating emerging technology with a preview of the technology’s business potential.