Financial Markets

GOV TRIAL SHOWS AI FAR BEHIND HUMANS IN DOCUMENT SUMMARIZING: ADDS MORE WORK!

A recent government trial conducted by e-commerce conglomerate, Amazon, for Australia's Securities and Investments Commission (ASIC) underscores the pertinent limitations of artificial intelligence (AI) when up against human intellect. The trial found that generative AI - a cutting edge technology used to generate and synthesise information - proves less proficient than human comprehension in summarising and reporting on data.

The AI model used in the trial was put to the task of summarising five submissions from a parliamentary inquiry, its results evaluated in direct comparison to the summaries produced by a group of ten ASIC human staff members. An internal evaluation of the summaries highlighted the stark contrast in competency; humans scored 81% for their summaries, while the AI trailed significantly, with a score of just 47%.

Analyses carried out by reviewers on the summaries' coherency, length, specificity of references, regulatory references and recognition of recommendations all significantly favoured human-produced summaries. The reviewers noted that the AI-created summaries faced manifold issues, including misinterpretation of emphasis, loss of nuance and context, inclusion of incorrect information, neglect of viable points, and occasional injection of irrelevant data.

The performance of AI in this trial suggests that its application could potentially result in more work, due to inaccuracies necessitating additional fact-checking and referencing of original submissions. This outcome counteracts the purported aim of AI as a labour-saving technology and raises crucial questions about our reliance on AI to mimic complex cognitive tasks.

However, with the trial's AI model already replaced with a more advanced version, it seems that the obstacles faced do not signal a full stop for AI applications in this field. Rather, it presents a springboard for improvements in capturing and summarising complex information. Yet, it is imperative that we bring in a paradigm shift, positioning AI as an enhancement tool for human tasks to leverage its potential without losing human-touch.

This notion is endorsed by Senator David Shoebridge, who identified the trial's implications on future uses of AI. He emphasized the need to ensure AI's role is supportive of, and not independent from, human assessments. As such, the future of AI should be seen not as an imminent usurper of human jobs, but as a powerful adjunct that can refine the efficiency and quality of our work when used conscientiously.

Thus, the ASIC trial provides a timely reminder of the power and necessity of human intellect, contextual understanding, and judgement in an increasingly automated world. Meanwhile, it also stresses the need for further scientific exploration, pushing the boundaries of AI technology to better serve and work alongside its human counterparts. This trial may help shape the use of artificial intelligence in the future, striking a balance between human intellect and AI capabilities.

In the grand scheme of technological advancement, these findings reinforce the call for 'human-in-the-loop' models – integrating human expertise with burgeoning technology and striving for a future where humans and AI can harmoniously and efficiently coexist.