In a digital tech world where the biggest names are dominating the industry, there is a common worry that artificial intelligence (AI) technology has the potential to further widen the gap. Today, companies such as Google, Facebook, Microsoft and even Tesla have built up a massive influence due to their technological advancements, especially through their use of AI. In a similar light, Taylor Swift’s skepticism of the now-imploded company she almost partnered with taught us how to be mindful of potential fraudulent activities in the Big Tech industry.
Elon Musk’s notorious joking manner has been a form of entertainment for some, but it’s clear that the power difference between the Big Tech companies and everyone else can be intimidating. The monopoly power of Big Tech companies means that their adoption of AI could create an even bigger gap, as developing AI is expensive. This is why some researchers are calling for change.
Google’s competing chatbot, Bard, has been met with negative reviews, especially from its own employees. Apparently, Bard is “cringeworthy” and a “pathological liar” that could potentially cause dangerous situations. Additionally, Facebook, WhatsApp, Instagram, and Reality Labs have all been hit with layoffs, raising concerns about how the Big Tech companies are valuing certain employees.
To address this discrepancy, Microsoft has apparently been working on a secret chip to make ChatGPT more affordable. Meanwhile, collaboration app Snapchat recently explained how to make money on its app. This explains how economically dependent the Big Tech is, but also reminds us the amount of economic freedom these companies have.
In addition, an example of this can be seen with the rapidly-growing grocery startup Getir, which recently saw its valuation drop by almost half during its most recent fundraising efforts. Even the potential of banning TikTok raises concerns, as this could give the government “pretty broad powers with very limited checks.”
Ultimately, increasing use of AI in the tech industry is not a bad thing, but they need to make sure that the power imbalance between these Big Tech companies and smaller tech companies or users of their technology can be moderated. Making sure these considerations are taken enhances user trust on these Big Tech companies and could encourage innovation across the industry.
