The Transformation Risk-Benefit Model of Artificial Intelligence: Balancing Risks and Benefits Through Practical Solutions and Use Cases
<|reference_start|>The Transformation Risk-Benefit Model of Artificial Intelligence: Balancing Risks and Benefits Through Practical Solutions and Use Cases: 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.<|reference_end|>
@article{fulton2024the,
    title={The Transformation Risk-Benefit Model of Artificial Intelligence:
  Balancing Risks and Benefits Through Practical Solutions and Use Cases},
    author={Richard Fulton (1), Diane Fulton (2), Nate Hayes (3), Susan Kaplan (3)
  ((1) Department of Computer Science, Troy University, Troy, Alabama, USA, (2)
  Department of Management, Clayton State University, Morrow, Georgia, USA (3)
  Modal Technologies, Minneapolis, Minnesota)},
    journal={International Journal of Artificial Intelligence and Applications
  (IJAIA), Vol 15, No. 2, March, 2024 pp1-22 (2024)},
    year={2024},
    doi={10.5121/ijaia.15201},
    archivePrefix={arXiv},
    eprint={2406.11863},
    primaryClass={cs.CY cs.AI}
}