With artificial intelligence (AI) emerging as a game-changing technology with the potential to revolutionize virtually every industry, the issue of trust in related systems has become increasingly important.
The amount of trust in these systems varies dramatically across different countries as AI continues to demonstrate its potential, underscoring the complicated and multifaceted nature of confidence in the technology, whose market share is expected to increase in the coming years.
In this area, Multi News’ research shows that as of 2023, AI’s predicted market share was $207.9 billion, and that by 2030, it was expected to rise by 788.64% to $1.87 trillion. In 2028, at $1.06 trillion, the market share is projected to surpass the $1 trillion level for the first time.
With a score of 75%, India tops the list of nations with the greatest level of trust in AI systems. With a score, China comes in second.
Factors influencing AI market growth
Despite the varying AI systems’ trust scores, the technology market share is projected to continue surging in the coming years, driven by various factors. Notably, the growing demand for automation will likely increase the need for AI services.
As many businesses seek to automate their processes to reduce costs and increase efficiency, AI-powered automation tools can help achieve these goals. Moreover, the increasing availability of data from various sources can be leveraged to develop more sophisticated AI algorithms, driving growth.
Furthermore, as AI becomes more widespread and accessible, it is also expected to expand into new industries and use cases. Government investments in AI research and development and regulations to ensure AI’s ethical and responsible use can also drive growth in the AI market
Drivers of AI systems trust score
With significant diversity seen across different jurisdictions, trust in AI systems is very context-sensitive and depending on the particular application or use case. Despite this variation, ChatGPT and other AI-driven solutions are leading the way in altering businesses and services while accelerating innovation.
However, the degree of trust among various groups determines whether these changes are accepted, and it is the main way that other factors influence AI adoption.
The institutional pathway, where people rely on reliable sources and institutional procedures to ensure the technology’s security and dependability, is one component that contributes to the overall level of trust in AI systems. In the same way that perceived AI benefits could encourage trust, anxiety regarding its potential future effects
There are many reasons behind India’s high trust rating for AI systems. The nation’s concentration on encouraging digital literacy and technical breakthroughs, which has led to a greater knowledge of AI among the populace, is one of the major drivers. Moreover, India has a thriving IT sector, with entrepreneurs leading the development of AI applications, which has probably raised trust in these systems.
Due of its robust technological landscape, which in turn affects trust, China is also growing as an AI powerhouse elsewhere. Chinese businesses dominate the industry by creating goods like facial recognition software and other applications of AI. AI firms with government contracts profit from the massive amounts of data the Chinese government is collecting.
The future of AI
On the flip side, AI still presents risks and challenges, with concerns about the trustworthiness of different systems, including data, algorithms, and applications. This is especially true following incidents of various AI platforms perceived as biased, discriminatory, manipulative, or unlawful.
For AI to be fully embraced and its benefits realized, it is crucial that the public trusts that it is being developed and used responsibly. In this line, several tech industry players have raised the alarm over the technology’s possible threats. For instance, Tesla (NASDAQ: TSLA) CEO Elon Musk is on record warning that if unchecked, AI systems could lead to “civilization destruction.”
Sustaining this trust is essential for accepting and adopting AI in society. To achieve this, AI systems must be designed and developed with responsibility and transparency, ensuring they do not go against societal norms.
