AI - The digital Guard

Hello everyone, Today we are going to discuss about the digital world and its shortcomings and how we can use AI to solve those problems...

May be after 1995 the entire world has started their transition to the digital. Not completely, but they were at the process of digitization.

In the beginning, things were going good but a big storm hits the market which is nothing but "Dot com bubble"

What is Dot Com Bubble?

Many investors poured excessive amount on the internet based companies by thinking that would be the best way to earn a profit in the future. The value of equity markets grew exponentially during the dotcom bubble, with the Nasdaq rising from under 1,000 to more than 5,000 between 1995 and 2000. With capital markets throwing money at the sector, start-ups were in a race to get big fast. Companies without any proprietary technology abandoned fiscal responsibility, and spent a fortune on marketing, to establish brands that would differentiate themselves from the competition. Some start-ups spent as much as 90% of their budget on advertising.

Why it got burst?

The 1990s was the period where all technological advancement happening in all of the areas. Even big companies like, Oracle, Intel was contributing to the static growth of the market Some internet companies started to fuel the stock market by attracting many investors.

The bubble that formed during the next five years is completely due to market overconfidence and pure speculation, Venture capitalists were willing to invest money in the company which has ".com" in their name! The Nasdaq index peaked on March 10, 2000, at 5048, nearly double over the prior year. Right at the market’s peak, several of the leading high-tech companies, such as Dell and Cisco placed huge sell orders on their stocks, sparking panic selling among investors. Within a few weeks, the stock market lost 10% of its value. As investment capital began to dry up, so did the lifeblood of cash-strapped dotcom companies. Dotcom companies that had reached market capitalization in the hundreds of millions of dollars became worthless within a matter of months.

Also we had one of the greatest failure in the history called Y2K Bug. That too one the logical failure of the computer program.

What is the difference between the digital world and the real world?

The main idea behind digitization is to make every task achievable and to make sure all the works which are been done by the human can be stored somewhere so, that can be referred if needed as well as to reduce the physical space for storing the files. But sometimes it feels like, we are overly relying on the computer to do our task. This may be relatable because in day to day life we need the computers to contribute the majority of the tasks to get accomplished. The major difference between the digital and the real world is, the digital world can greatly influence the real world but that is not fully possible in vise versa.

We are ready to tweak the environment for digital needs. Because life with the digital phase makes it easy to live.

Shortcomings of digital technology:

It has its very own shortcomings, just think in this way if all the works can be done digitally then there are lots of chances that it could be manipulated. It has happened through the internet, we are not aware of how these are being processed and where are all places our confidential documents, photos were shared. We have experienced many cyber-attacks that impacted the entire market and some big companies are also not exceptional, Many cyber crimes have been reported after the advancement of digital technology like, Virus attacks to freeze all confidential documents, Transaction details, etc...

Some social problems that need to be addressed which is caused due to the advanced technology. This includes Social media and other digital platforms

Example:

• Spreading False news

• Misusing personal Information

• Manipulating the process

• Cyber attacks

• Anti-trust issues

If we depend on digital technologies, then it is very important to safeguard the platform

How AI can be utilized for Digital securities?

We have many works which can be done digitally. But we are unsure about the securities because the internet is very wast, it seems very vulnerable. So, we need to make sure that we are not getting affected by any of the cyber war that could occur. Artificial intelligence can be used to monitor certain activities of the internet and social media platforms which could identify any anonymous footprints in the internet.For humans it is not possible to monitor entire digital platforms but AI can do that by processing millions of task at a time. we have some of the major problems that need to be addressed.

Spreading False News:

we have access to social media platforms and the internet connectivity so, any information can be shared in a fraction of seconds but the reliability of such information are important. we can use AI to fact check each and every information before sharing to others.

Example : If there is a news, "Earth-quack in the Himalayas" - This news will be allowed to share only after checking the latest news related to that from the dedicated source by an AI algorithm. If it is false, then this will throw an error "Sorry, this information seems to be incorrect which cannot be shared"

Misusing personal Information:

we have our personal information being exposed to social media, but there could be a possibility of misusing that information including Photos,videos, locations,etc...

How it would be if an AI algorithm could tell you where all the places our photos have been shared and stored? and if we don't want our information to be stored in a particular place, we must have access to delete those!!

Then we will know the real face of social media!

Conclusion:

All the technologies were invented to increase the human values and to ease the work but it all depends on how we use that!, AI as a technology, that could change the entire world if we utilize its full potential in a right way!

-Sree