The New Era of Machine Learning: A Curse or a Boon for Society

Abstract

Abstract: Machine Learning (ML) & Artificial Intelligence (AI) is changing how we live and work by permeating more and more industries. Although artificial intelligence (AI) has great promise for improving efficiency and accuracy in decision-making, it also poses serious concerns about how AI will affect society and the nature of labor in the future. Our goal in this study article is to investigate the possible effects of AI's widespread use on employment, inequality, ethics, and privacy. We'll look at current developments in AI and assess how they affect different sectors, such as the job market, healthcare, finance, and education. Additionally, the article will evaluate the possible risks that come with AI and go over possible mitigation strategies. Through an analysis of AI's current state and future social implications, this research attempts to offer a thorough and informed view of what work will look like in an AI-driven world. Keywords: Societal Impact, Role, Ethical Considerations, Influence on Specific Industries, Potential, Conclusion The goal of the computer science and engineering field of artificial intelligence (AI) is to build intelligent computers that are capable of carrying out tasks that would typically require human intelligence. Language comprehension, pattern identification, and decision-making are all part of this activity. AI systems are now widely used across many industries, including healthcare, banking, education, and retail, thanks to the growth of AI technology. The broad use of AI has the potential to help society greatly in a number of ways, such as increased decision-making accuracy and efficiency, better patient outcomes in the medical field, and enhanced financial outcomes in the banking industry. But as AI advances, significant questions concerning its effects on society and the direction of business are brought up. AI systems have the ability to change the power