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Stop worrying about ChatGPT taking your job; harmful AI is already here and you probably didn’t notice it
January 24, 2024
Contributed by: Bill Russell
AI increasingly affects finances through real-time pricing algorithms. Pricing algorithms, monitoring countless variables, apply maximum price tolerance, influencing economic decisions daily. Beyond budget impact, the "pain of paying" recognized in behavioural economics could cause psychological discomfort akin to physical pain due to perceived fair value deficit in every transaction. This potential harm from AI's embedding in economic activity may increase psychological fatigue amidst increasing corporate profits. Accountability for AI developers and users can mitigate this insidious, subtle impact.