Scholarship Winner | Samuel Armstrong

Each semester, Jet sponsors the Future Business Leaders Scholarship in an effort to help one college student with some of their education cost. Congratulations to Samuel Armstrong, who has been selected as the recipient of the Fall 2024 award.

Samuel is a Sophomore at Norfolk State University working towards a degree in Physical Education.

Samuel was asked what advice he can give to current/future college students, and his response was as follows: "To any future applicants, listen to your parents when they tell you to apply for lots of scholarships. It seems like a long, repetitive process, but the reward is worth the effort."

Prompt

The technology behind AI and machine learning continues to grow in our society and we are seeing it incorporated more and more in our everyday lives. How might this technological advancement impact small businesses moving forward? Is this ultimately a good or a bad advancement for society?

Samuel's Essay

Artificial Intelligence and machine learning is advancing by the day, changing industries, and becoming a normal part of people's daily life. For small businesses, these technologies offer both opportunities and challenges. As AI becomes easier to use, it can help small businesses streamline operations, improve customer experiences, and compete with larger companies. A major benefit AI has is small businesses is automation. AI-powered tools can handle repetitive tasks, such as customer service through chatbots, inventory management, and data analysis. This not only saves time and brings down costs but also allows small business owners to focus on more strategic activities. For instance, AI can analyze customer data to provide insights into buying behaviors, enabling more personalized marketing strategies that were previously only available to large corporations with extensive resources. The integration of AI also has its challenges. The first investment in AI technology can be big, which may be a barrier for some small businesses. There is also the issue of data privacy and security. As businesses collect and analyze more data, they must make sure that customer information is protected from breaches, which requires strong cybersecurity measures. To add, there is a risk that AI could lead to job displacement, in roles that are easily automated. Small businesses must overcome these challenges carefully to ensure that AI helps their operations without negatively affecting their workforce. The impact of AI and machine learning on small businesses and society confusing. While these technologies offer huge benefits, including increased efficiency and enhanced customer experiences, they also come with potential downsides, such as job displacement and privacy concerns. If AI is used ethically and with consideration for its larger impact, it has the potential to fuel economic growth and improve lives. However, if not carefully managed, it could create inequalities and create new challenges. Finally, the key to AI’s impact lies in responsible innovation and the balancing of its benefits with its risks.