Abstract Artificial Intelligence on Atomic and Technology concept

‘AI’ is Collins Dictionary’s Word of the Year

Collins Dictionary has announced ‘AI’ as its Word of the Year for 2023, ahead of de-influencing, greedflation, and debanking.

Artificial intelligence (AI) has emerged as the most popular topic this year as millions interacted with ChatGPT and other popular chatbots. AI was met with excitement and expectation as users turned to chatbots for recipes, coding, script writing, analysis, making music, and more.

This didn’t last long, and fear and suspicion soon set in. Would AI take over the world in the future? Can the machines we’re investing billions in become self-aware and destroy us? Are we moving too fast with AI? These were among the hottest debate topics in 2023, justifying Collins Dictionary’s choice for its Word of the Year.

Collins defines AI as “the modelling of human mental functions by computer programs.”

AI has become a divisive topic globally. Some, like the Godfather of AI, George Hinton, have warned that we’re moving too fast with the technology. Others, like OpenAI founder Sam Altman, say we’re not moving fast enough. Regulators claim that we must rein in the technology through comprehensive policies. And yet others, like Dr. Craig Wright and
Konstantinos Sgantzos, say AI is a little overrated.

“We know that AI has been a big focus this year in the way that it has developed and has quickly become as ubiquitous and embedded in our lives as email, streaming, or any other once futuristic, now everyday technology,” commented Alex Beecroft, the managing director at Collins.

Other contenders this year included debanking and greedflation. The former refers to “the act of depriving a person of banking facilities,” while the latter is “the use of inflation as an excuse to raise prices to artificially high levels in order to increase corporate profits.”

Debanking has been made popular in the U.K. by politician Nigel Farage, who accused Coutts, a private bank and wealth manager, of shutting down his bank accounts due to his political views.

However, the digital asset industry is no stranger to debanking. Several companies, from exchanges to wallets and startups, have had their accounts shut down for dealing in digital assets.

Watch: AI takes center stage at London Chatbot Summit

YouTube video

New to blockchain? Check out CoinGeek’s Blockchain for Beginners section, the ultimate resource guide to learn more about blockchain technology.