Benefits & Risks of Artificial Intelligence

AI_1With many different technological advancements; both good and bad, one gift that humans have received in the world of IT is artificial intelligence (AI). It doesn’t come as a surprise that we have reached this point; we have strived to create machines with the capability to reduce human effort and aid in decision making.

With the introduction of digital assistants like Google Assistant, Siri, and Alexa, our digital life hasn’t only become easier and smoother but also fun. With all the technological advancements being made today we are surrounded by machines that assist our lives via AI. All these AI based machines and programs are capable of carrying out both simple and complex tasks effectively without any human intervention.

For instance, Google Home Assistant has provided us with what’s now known as ‘smart homes’. You can ask the AI to carry out many small tasks with voice commands, as well as start a conversation. Using the assistant is also very easy. All you need to say is “OK Google” or “Hey Google” followed by an instruction of the task you want it to perform and that’s it. The AI assistant will then carry out that task for you.

There are countless other digital assistants on the market designed to facilitate certain aspects of our lives by carrying complete tasks for us.

Another good example of AI technology that’s beginning to appear in our lives is self-driving or driverless cars. This autonomous technology, set to really begin taking off within the next five years or so, allows us to commute without the need of a human driver. Autonomous vehicles use AI technology to track traffic conditions along with other environmental factors.

Then there’s all the AI-driven work solutions such as Sales Enablement Software, Learning Management Platform, and others that are revolutionizing the way we work.

Despite the many benefits that AI technology is bringing to society, there’s still an ongoing debate about whether or not AI could negatively affect our daily lives. There are opinions both in the support of AI and against it.

To put an end to this discussion, we have to evaluate both the pros and cons of having AI in this age and come to a conclusion by weighing the impact of both. Continue reading along to learn some of the tremendous benefits and unfortunate risks of AI.

Benefits of Artificial Intelligence:

AI_41. Increased efficiency

Artificial Intelligence has boosted work efficiency by being able to carry out specific repetitive tasks effectively without any human interference. This not only eliminates the amount of human labor required to complete tasks, but it also eliminates the occurrence of human errors.

Unlike human workers, AI machines don’t get tired and can work day in and day out. This eliminates the need to hire more than 1 employee to do the same task across different work shifts.

2. Better accuracy

Human make mistakes. This is in our nature. Even if we give something our undivided attention and have the right skills, we are still prone to make mistakes that can affect our work accuracy. Machines that work with AI, on the other hand, are capable of solving complex problems and carrying out tasks with higher accuracy. The sheer accuracy of these AI powered machines has boosted their value across many industries, particularly the medical and chemical sectors. Robots have proved to be efficient and consistently complete tasks accurately.

3. Reduced cost

A massive benefit of AI-based machine learning is that is eliminates the need for continuous training. When humans carry out tasks, it’s necessary to provide training for them whenever an update is made. However, with AI-based machines, all that’s required is to for the machine to incorporate changes in the way it carries out tasks. These machines also learn much faster than we do, making them much more efficient in the event of an update. Furthermore, the cost of operating these machines can be much less than their human counterparts in large part thanks to their high degree of accuracy and efficiency.

4. Efficient Processes

Another benefit of AI in the modern world is the way it’s able to process information. AI machines are capable of processing massive amounts of data much faster than we can. We can further use that data to collect insights and plan strategic growth using the predictive analysis.

Risks of Artificial Intelligence

AI_3Unsustainability

One of the biggest cons of AI is its unsustainability. Machines with AI typically require a lot of computing power via an array of several processors. These parts contain rare earth materials like Selenium and require batteries that run on another rarely found earth material, Lithium. Producing more AI powered machines would require more Selenium and Lithium, which could be irreversibly harmful for the environment. Also, many of these machines require a lot of power to function, putting pressure on our power plants.

Fewer Job Opportunities

The adoption of AI means fewer people are required to complete a job. By having machines complete tasks on their own there’s no need for human workers to perform that task for us. Also, many organizations prefer machines over humans as it cuts costs, which means higher profits. Some argue that this will eventually have a negative impact on job prospects for even the most skilled worker.

Threats to Human Kind

Many well-known and big names in the field of science and technology have suggested that AI is a threat to human kind, including Elon Musk and Stephen Hawking. Their reason is that AI machines could gain sentience and eventually turn against us if not programmed or used correctly.

Conclusion

AI_2Like anything, AI has both its advantages and disadvantages. We currently live in a world in which AI has helped make many aspects of our lives easily. However, whether or not the technology is ultimately a benefit or danger to us in the future is completely in our hands. Proper, responsible use of AI based machines would probably not cause any major harm, however, if used recklessly it is quite capable of spelling disaster for us.