AI: Powerful. And limited.

The promise is there, but AI's limitations are also coming increasingly to the fore, potentially undermining trust and leaving some questioning the real value of the technology. OECD Business and Finance Outlook 2021: AI in Business and Finance says AI has the potential to provide insights, recommendations and efficiencies for sectors ranging from health care to agriculture, but it also can create new risks or reinforce existing risks, including eroding competition, privacy and the right to fair, equal treatment. It's already'transforming' financial services, with financial markets spending up large in 2020 with global spend of more than US$50 billion in AI. But the OECD report says risks include entrenching bias, lack of explainability of financial decisions, introducing new forms of cyber attacks and automating jobs ahead of society adjusting to the changes. "Fewer than two out of five of companies that had made an investment in AI reported business gains."