Megatrend AI: "Transformative dynamics continue to accelerate"

The spectacular success of ChatGPT has accelerated the "AI revolution" in a way that surprises even experts. After the FERI Cognitive Finance Institute pointed out the disruptive dynamics of artificial intelligence in several studies at an early stage, the topic has now finally arrived in the mainstream with the appearance of new AI systems. “Due to the enormous leaps in development in the new area of ​​generative AI, the introduction of AI systems suitable for the masses is moving forward by a good 10 years. Now the next wave is running in AI, which will transform the economy and society much faster and more radically than previously expected," says Dr. Heinz-Werner Rapp, founder and head of the FERI Cognitive Finance Institute, on the occasion of a current analysis update on the rapid progress in the field of artificial intelligence.

The next level is emerging

Texts, images, videos or music compositions generated by AI are already practically indistinguishable from human creations. Artificial intelligence is thus becoming a decisive "game changer" in many areas. Much of the work that has to do with the application of learned knowledge can be done by AI in the future. “For the first time, highly qualified knowledge workers are now facing competition from machines. That will fundamentally change the world of work,” explains Rapp. The historically unprecedented speed and the enormous impact of the AI ​​​​transformation trigger justified fears in many cases. This also includes the growing concern about AI abuse and "deep fakes", not only in social media, but increasingly also in politics, the judiciary, medicine and the financial sector. The fact that the market power of large technology groups, which is based on massive data throughput, could be further strengthened by AI should also be viewed critically.

Complicated path to the future

Basically, with a highly complex topic like AI, it is hardly possible to accurately predict the next development steps. However, it must be assumed that artificial intelligence, which encompasses and intervenes in all areas of human life, will change the economic and overall social environment more radically than few developments before. The dynamics of massively growing amounts of data are already ensuring an exponential course in AI development. In the near future, there will also be technological innovations such as “neuromorphic chips” and quantum computers, which will then massively accelerate AI development again. Entrepreneurs and investors should therefore familiarize themselves intensively with the attractive future potential, but also with the foreseeable distortions in the field of AI.

The analysis was published by the FERI Cognitive Finance Institute as "Cognitive Comment". The German version can be found in the download area of ​​this page.