The Transformation Risk-Benefit Model of Artificial Intelligence: Balancing Risks and Benefits Through Practical Solutions and Use Cases
This addresses the challenge of managing AI risks for practitioners and policymakers, but it appears incremental as it builds on existing models.
The paper tackles the problem of balancing risks and benefits in AI by proposing a new framework called 'The Transformation Risk-Benefit Model of Artificial Intelligence', which synthesizes existing models and emphasizes practical solutions in domains like healthcare and cybersecurity.
This paper summarizes the most cogent advantages and risks associated with Artificial Intelligence from an in-depth review of the literature. Then the authors synthesize the salient risk-related models currently being used in AI, technology and business-related scenarios. Next, in view of an updated context of AI along with theories and models reviewed and expanded constructs, the writers propose a new framework called "The Transformation Risk-Benefit Model of Artificial Intelligence" to address the increasing fears and levels of AI risk. Using the model characteristics, the article emphasizes practical and innovative solutions where benefits outweigh risks and three use cases in healthcare, climate change/environment and cyber security to illustrate unique interplay of principles, dimensions and processes of this powerful AI transformational model.