AI Crowned Word of the Year by Collins Dictionary
The Collins dictionary has named “artificial intelligence” (AI) as the word of the year for 2023. AI refers to the modeling of human mental functions by computer programs. The dictionary publisher noted that AI has experienced rapid development and has become a topic of much discussion. It is considered to be the next major technological revolution.
Collins’ Interest in Digital Culture
Collins also expressed its interest in “digital culture” this year and shortlisted the word “de-influencing.” This term refers to influencers using their online presence to caution followers against certain commercial products or lifestyle choices.
Finance-Related Words on the Shortlist
In addition to AI and digital culture, Collins included two finance-related words on its shortlist. One of them is “debanking,” which refers to depriving a person of banking facilities. This term gained attention after a UK politician, Nigel Farage, claimed that Coutts bank tried to close his account due to his political affiliation.
Debanking has been an ongoing issue in the crypto space, with instances of denying players in the digital asset industry access to banking services.
“Greedflation” as Another Shortlisted Word
Collins also added “greedflation” to its shortlisted words. This compound word combines “greed” and “inflation” and refers to the practice of raising prices artificially high under the guise of inflation in order to boost corporate profits.
The dictionary attributed the current living crisis in the UK to inflation and suggested that businesses are using greedflation to increase their profits through excessive price hikes.
Hot Take: AI Continues Its Rise in Popularity
AI’s recognition as the word of the year by Collins Dictionary highlights its growing prominence in society. The rapid development and widespread discussion surrounding AI reflect its potential to revolutionize various industries.
Furthermore, the inclusion of finance-related words like “debanking” and “greedflation” on the shortlist emphasizes the impact of technological advancements and economic issues on our language. As AI continues to shape our world, it is crucial to stay informed about its implications and stay engaged in discussions surrounding its use.
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