Artificial Intelligence dumbing your investment intelligence?
Crypto “ache hain”, doge coin is the next big thing – chances are you would have come across these or similar lines promoting certain investments without giving any logical reason for their optimism.
Or in your online search you repeatedly come across many articles by analysts saying the stock market crash is around the corner? Well then you too have been affected by a latent bias or a ‘dumbness’ in the artificial intelligence of these systems.
In an increasingly digital world where every facet of our lives is soon going to be connected to 5G technology and all of the internet of things it will usher – there is a greater risk that a certain view may be reinforced in multiple ways and subconsciously pressurize our minds to accept that view or opinion as a fact!
Quite similar to how continuously hearing that avocado is used by celebrities makes you think it’s a wonder fruit or just like how hearing every news channel echoing Trump’s statement about hydroxychloroquine made us think it was a miracle drug for Covid-19.
Now today’s uber tech savvy teens consume everything digitally be it from Netflix, Amazon, Social media or even just their google searches. The problem statement is that searches are being done with artificial intelligence codes which may be designed to favour click baiting* – thus throwing up results which are more likely to get clicks and here factuality could go for a toss.
For a more vivid illustration, think about cryptocurrencies – you just like everyone else want to know what cryptocurrencies are all about. Now because you have typed ‘crypto’ ‘currency’ or other similar word on your search bar – all your feeds be it your news app, social media handle, shopping mart will throw up more and more crypto currency related feeds. Here the AI will further refine your preference by seeing what type of crypto currency links or articles you prefer – e.g. heard about how bitcoin is going to reach USD 1 million and clicked on that link – this seeming non-harmful click on an article which is positive, crypto related, by a certain author/platform, with certain hashtags and likes will get registered by the AI. So now you will have more such positive crypto related articles from similar platforms – thus you end up seeing crypto reaching the moon in everywhere
Now this positive reinforcement is mostly not based on any fact but on opinions, which in good faith and capable research or Not!. But problem here – hearing and seeing talks of crypto being the next big thing will make you sub-consciously believe that statement without any critical thinking!! Why will it reach 1 MN? how does bitcoin work? When – tomorrow, day after, next year or 50 years later? How will I buy?
Here most teens end up staking their life savings on what is often a pipedream. This is an inherent risk that AI’s contextual limitations will sway our minds too easily. We have already heard about fake news and how social media is influencing national elections.
How just one mis-statement aka verbal typo on live TV by Alia made us judge her intellect while on the contrary anyone who has read her other interviews, opinions and capability will see her in a very different intellectual light.
This is best addressed today when the victims – the teens are most easily influenced. Best way to address this? Well you can’t remove all technology (can you?) so teach them to do critical thinking, to listen to everyone but do what makes sense to yourself. Here is where YWCO’s programs are designed to teach critical thinking in young adults through investments and entrepreneurship.