Well, well, well, it seems like old-fashioned history is trying to make a comeback, but we all know that history is a one-time thing and it doesn’t repeat itself. So, let’s talk about something that is actually relevant today. Companies are going head over heels to unleash the power of A.I. and make some serious cash, but the Federal Trade Commission (FTC) is keeping a close eye on them. They are making sure that fair competition is promoted and that Americans are protected from any shifty business practices. Sorry folks, no shady dealings allowed, even with fancy new gadgets.
As the A.I. technology is evolving at the speed of light, we can already see some issues cropping up. The risk of large tech companies seizing control of the market is making people like the FTC nervous. Some big bad organizations are controlling all the essential raw materials that start-ups need to develop A.I. tools. This includes cloud services, computing power, and vast stores of data. The FTC is on the lookout for any funny business, as these dominant firms could exclude or discriminate against smaller rivals, essentially picking their favorites and crushing innovation.
The A.I. tools that businesses use to set prices may have huge implications too. These tools could be facilitating sneaky collusion between companies, inflating prices unfairly and I don’t know about you, but I like my laundry detergent at an affordable price. Enforcers have a huge responsibility here, watching out for any dangers associated with new A.I. technologies while also promoting fair competition. The FTC is well equipped to handle any issues brought on by the rapidly developing A.I. sector, including collusion, monopolization, mergers, price discrimination, and unfair methods.
Hold on, folks! The fraudsters are back, and this time they’ve got some new toys to use for their dirty work. Generative A.I. is making life easier for the cons by giving them the tools to create authentic-looking messages, fake websites, fake reviews, and even spear-phishing emails. Chatbots are already being used to generate these nasty emails designed to scam you out of your hard-earned cash. Scammers get crafty by drafting highly-targeted emails based on our social media posts. Meanwhile, other tools are creating deep fake videos and voice clones that can be used to facilitate fraud and extortion on a massive scale. Seriously, can’t we catch a break from these guys?
So there you have it, folks. The FTC is keeping a close eye on the A.I. landscape while making sure that fair competition is maintained. Meanwhile, the scammers are using their new toys to craft increasingly authentic-looking messages, putting us all at risk. Stay alert, stay safe, and don’t let those cons get you!
Serious News: nytimes
