What the Cryptocurrency Industry Can Learn from Artificial Intelligence’s Success in Influencing Washington

Media gatekeepers are weaker than ever, leaving the public, which is already distrustful of large corporations and institutions, vulnerable to rumor and disinformation. In the late 1990s and early 2000s, many Americans relied heavily on traditional media sources. Today, more Americans get their news from their favored social media app, which likely prioritizes content that engages (sensationalizes) rather than educates. And when constituents are whipped up by trending topics and viral posts, lawmakers have less political freedom to craft middle-of-the-road policies. Just as crypto market participants have suffered from the public’s focus on a small number of bad actors, the AI industry will be held politically liable when machine learning produces sub-optimal outcomes, even if machine learning outcomes are more often statistically superior than processes managed by humans.

According to a study by Pew Research, media gatekeepers are weaker than ever, leaving the public susceptible to rumor and disinformation. The study found that in the late 1990s and early 2000s, many Americans relied heavily on traditional media sources for their news. However, in today’s digital age, more Americans are turning to social media apps as their primary source of news. This shift in consumption habits has raised concerns, as social media platforms often prioritize content that engages and sensationalizes rather than educates.

The reliance on social media for news has significant implications for the political landscape. When constituents are influenced by trending topics and viral posts, lawmakers face limitations in crafting moderate policies. The pressure to cater to the sensationalized narratives that dominate social media can hinder the development of balanced and nuanced approaches to governance.

This phenomenon is not unique to the media industry. Just as the cryptocurrency market has suffered from the public’s fixation on a few bad actors, the AI industry may face similar challenges. Machine learning, while statistically superior to human-managed processes in many cases, is not immune to producing sub-optimal outcomes. In the same way that the public holds the crypto market accountable for its shortcomings, the AI industry may be politically liable for any negative consequences resulting from machine learning.

It is crucial to recognize the impact of media consumption habits on public perception and political decision-making. As media gatekeepers continue to lose their influence, it becomes increasingly important for individuals to critically evaluate the information they encounter and seek out credible sources. The responsibility also falls on lawmakers to resist the pressures of sensationalism and prioritize evidence-based policymaking. Only through these efforts can we mitigate the risks posed by the weakening of media gatekeepers and ensure a well-informed and balanced society.

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J-S Tremblay
About the author - J-S Tremblay

I've been involved in the cryptocurrency world since 2016 and trading since 2019. I started Moon and Lambo in 2021. I'm passionate about crypto and love to share my knowledge. I hate bankers and I hope that cryptocurrency will change the financial world for the better. View full profile...

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