Despite concerns about massive layoffs and false information due to artificial intelligence (AI), more people believe the technology will create a positive impact on society, S&P Global’s survey revealed.

The S&P survey released recently showed 59 percent out of 5,000 respondents have said AI will bring a “significant” impact on society, up from 47 percent in 2022.

Out of this subgroup, 18 percent said the impact would be mostly positive while 16 percent said it would be mostly negative.

“Much remains uncertain. New capabilities, emerging applications, and greater adoption will give rise to potential benefits and risks, including for education, healthcare, food production and equality,” S&P said.

S&P research estimates generative AI like ChatGPT, which generates texts as a language learning machine software, could expand its market by 49 percent by 2028.

Meanwhile, the market for other AI-based data tools could grow by 70 percent.

S&P said students in low-income countries can experience AI-powered tutoring based on their individual weaknesses and capabilities.

As humans are innately social beings, S&P said AI can help teachers further enrich students’ knowledge and skills in a more efficient way.

AI-assisted lesson planning

“Teachers should benefit from developing tailored learning paths and assessments based on their classes’ needs, while AI-assisted lesson planning will free up educators’ time to focus on their students, reducing unpaid overtime that can lead to burnout and increased staff turnover,” the global market researcher said.

For healthcare, S&P said advanced AI can more easily detect abnormalities in the body compared to the human eye with the help of robotics.

“Patients may experience more personalized care and quicker recovery while hospital systems may better optimize deployment of medical staff while reducing administrative costs,” S&P said.

Help reduce world hunger

For the food industry, S&P said AI can help businesses and governments create better-tasting and more nutritious foods by redesigning the plant and animal DNA.

“AI’s growing role in this field should improve scalability and could ultimately help reduce world hunger, food costs, and production time,” S&P said.

However, S&P analysts said these AI benefits will be delivered to all citizens if governments, especially those of low and middle-income countries, accelerate efforts on the internet and other digital infrastructure, upskilling the labor force and policies against unethical use of AI.

“The likelihood that AI will have a net positive influence on society depends on policymakers, private corporations, non-governmental institutions, and societal norms steering AI’s responsible, secure, and equitable development and deployment,” S&P said.