Over the last several decades, it is quite incredible to examine the advancement and technological innovations that have occurred over such a short span in human history. From the laptop, to the television, and notably the smart phone, technology has come to dominate the everyday lives of Americans. The most current technological advancement that many economic experts have worryingly discussed in recent times is Artificial Intelligence, or (AI). This technology, which has advanced rapidly, may pose a threat to the employment security of millions. The massive company Goldman Sachs recently released a report that alleges that some 300 million jobs are possibly at risk as the technology grows. Within the publication, the organization stated the ominous statistic that 18% of jobs globally could be replaced by the technology. Within America, Goldman Sachs estimated that about 25% of employment in the United States could be made obsolete if the technology continues to evolve.
Alarmingly, social media platforms have quickly sought out Artificial Intelligence. Millions of young people around the world regularly utilize and are engaged on these platforms for copious amounts of time on a daily basis. The mental health of young people often comes into question when discussing the dominance that social media currently exerts over socialization, as these platforms have completely changed the way people socialize. Bullying, harassment, and many instances of anxiety and depression often stem from an addiction to these platforms.
Social media giants are now seeking ways to increase their revenue and make even more money. In the European Union, Meta (or Facebook) recently began offering paid subscriptions for European users of Facebook and Instagram which would prohibit advertisements from being displayed on these users’ social media feeds. The move comes after the company was embroiled in a heated exchange with regulators that claimed the company broke E.U. digital advertising guidelines. Facebook (Meta) was fined $400 million in January of 2023 for this alleged advertising violation.