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AI is coming – fast!

All Areas > Legal & Finance > Money Matters

Author: Roger Downes, Posted: Tuesday, 25th March 2025, 09:00

We’ve all witnessed the growth in IT, whether it be those of my generation, for whom computers didn’t exist in our childhood days, or today’s youngsters looking for faster, fancier solutions for their mobiles. Rapid though that development has been over three generations, it is nothing compared to the pace at which we are currently witnessing the growth of Artificial Intelligence (AI).

Most of what we have seen to date in terms of technology has been for the good. True, there have been some job losses as machines have replaced people, but they have always needed real people to run, program, interpret them, and so on. And they have a nasty habit of going wrong – but that’s a whole other subject!

Jobs that are taken for granted will be at risk of replacement

AI is different. It openly sets out to replace people, which is its very role in tomorrow’s society. Jobs that are taken for granted will be at risk of replacement. Take tax advice – a subject close to my own heart – as an example. Will you need a human to analyse your tax position, consider the options and tell you what’s best for you, when AI can crunch that data in a millionth of the time and produce a solution that is “inarguable”? Anyone else in other parts of the service industry is similarly vulnerable.

It used to be argued – it probably still is – that no machine can be smarter than a human. But all of that is about to change and there’s nothing we can do to halt or reverse it.

Even good AI will have its drawbacks

The biggest worry is that there will be good and bad AI. Even the good will have its drawbacks as it replaces jobs. But can you imagine the damage that can be done by the bad? Half the time, even now, you don’t know whether you are talking to a human or a machine. They are already programmed to respond to what you say and to your demeanour. That’s only going to intensify and increase the number of successful scam calls.

We need to be very aware and afraid. Misused, AI could be the worst news in centuries. Properly used, it is surely the cure we desperately need for match-day VAR?!

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