The development of advanced language models such as ChatGPT (Generative Pre-trained Transform) has raised concerns amongst companies about potential risks associated with generative AI technology. While some businesses see the potential for improved efficiency and productivity, others worry about potential impacts on cybersecurity, search engine ranking, and ultimately profitability. Misa Singh, Business Fundamentals Analyst at GlobalData, has commented on how innovative new technologies, such as ChatGPT, have caused cybersecurity professionals to be worried about the related threats and risks of the technology. It is believed that the use of more sophisticated AI-powered products could lead to better tailored phishing emails and other types of cybercrime.
These worries have been echoed by many internet service providers, who worry that ChatGPT could have a negative impact on their search engine rankings, and as a result, a decrease in traffic to their platforms. In order to combat these potential issues, businesses have been urged to invest heavily in the research and development of new machine learning models and datasets which could be used to ensure accuracy and minimise the risk of unintended consequences.
Companies such as Microsoft and Google are already integrating generative AI technology into their products, creating a wave of new competition in the market that other companies must keep up with. Baidu Inc. for example, have already noted that their future success depends on the accumulation of resources and technology necessary to keep up with the new advancements, while Yandex NV notes that competition may require the need to reorganize search engines and algorithms, affecting their capacity to monetize and potentially impacting profit margins.
Lastly, NerdWallet have mentioned that the availability of more AI-based products could cause a decline in the relevance of search engine ranks, leading to a reduction in their financial results if not able to transform their content strategy. Thus, GlobalData’s research shows that AI technology does bring potential risks, but with careful risk management, companies can take the necessary steps to mitigate them.
