NAVIGATING AI IN THE REAL WORLD: TRANSFORMATIONS, REGULATIONS, AND CHALLENGES

Abstract

Artificial Intelligence (AI) has transitioned from a theoretical construct to a pivotal technology reshaping various industries, including healthcare, finance, education, and transportation. Leveraging advanced methodologies such as machine learning (ML), deep learning (DL), and natural language processing (NLP), AI has driven significant advancements in efficiency, innovation, and data- driven decision-making. However, its integration raises critical challenges related to data privacy, algorithmic bias, transparency, accountability, and ethical concerns in automated systems. Risks such as labour market disruptions and societal inequities further
complicate its adoption. Regulatory frameworks, including the General Data Protection Regulation (GDPR), the Federal Trade Commission (FTC), and sector-specific entities like the Food and Drug Administration (FDA) and the National Highway Traffic Safety Administration (NHTSA), are instrumental in addressing these challenges by enforcing compliance and promoting safety. This study explores AI's transformative potential, the associated ethical and technical challenges, and the regulatory mechanisms necessary for its responsible deployment. It aims to comprehensively understand AI's role in fostering technological progress while safeguarding
societal values.