Artificial Intelligence: Pros & Cons
The fact is that artificial intelligence is increasingly entering our lives.
Therefore, whether you are excited about it or afraid of it, AI applications have started to penetrate almost every industry and we need to learn how to use them.
Especially with the development of computers whose "way of thinking" is increasingly similar to that of humans, their use is inevitable if we want to keep up with today's technologies.
But what many cannot agree on is whether or not artificial intelligence will benefit or not.
For this reason, in today's article we will analyze the positives and negatives of AI so that you can have a better idea too.
Specifically, we will see:
- What artificial intelligence is
- The advantages of artificial intelligence
- The disadvantages of artificial intelligence
But let's start with the basics.
Artificial Intelligence (AI) is the process where computers take data, act on it and learn from experience in order to automatically execute various commands.
In short, it is machine intelligence that simulates human behaviour or thinking and is trained to solve specific problems.
AI is a mixture of machine learning, deep learning and various other learning techniques, as AI models are "fed" with data and trained based on it to make intelligent decisions.
Of course, you don't always need to know exactly how an AI system technically works, but you do need to know that it is always designed for an end goal.
From there, it is trained with the available data to learn how to achieve that goal, even without human intervention.
We could certainly say a lot more about AI, how it works and where it is applied, but we want to focus mainly on the advantages and disadvantages.
These are exactly what we will look at in the next section.
Let us begin.
The positives of AI can revolutionize many industries and include the following.
Positive #1: Error reduction
By far one of the key benefits of AI is the minimization of human error.
As is understandable, humans make many mistakes, but computers (if programmed correctly) can avoid them.
Since the decisions of an AI system are derived from data with the help of algorithms, accuracy increases and errors are reduced.
In the end, reducing errors means less wasted resources and time, making investing in AI a great option for any company!
Let's move on to the next advantage.
Positive #2: Faster decisions
Saving time and resources for a company can be invaluable, and it's something that AI accomplishes.
It works with various technologies that help machines make decisions faster than humans, resulting in faster actions.
Remember: The more decisions an AI system makes, the more accurate and faster its future decisions will be.
Let's move on to the next positive.
Positive #3: Predictions
Another positive of AI is the fact that it can identify patterns from analyzing data, and as a result, it can make predictions.
For example, this can be particularly useful in marketing decisions, as a company will see the "big picture" faster and more comprehensively through the machine than if a human were to see it.
We could certainly mention many more positive aspects of AI, but we believe that these 3 are among the most important ones.
Let's now move on to some negatives that are worth mentioning, in order to make this guide as objective as possible.
As with anything out there, there are 2 sides, so let's briefly look at 3 disadvantages that the use of AI brings.
Negative #1: Changing the work environment
A common concern that many have when looking at the growth of AI is the replacement of human resources by machines.
AI is coming to change the job landscape by eliminating some more traditional and "manual" jobs that will quickly be replaced.
Negative #2: Investment costs
It's no secret that AI systems are not cheap. Their initial installation alone requires a high investment cost that not all companies can afford.
The cost of all the software and hardware required, as well as the cost of training staff, must also be taken into account.
Of course, as the title says, it is an investment, so no matter how expensive it is, it can generate more revenue in the future.
Negative #3: Lack of emotion
As much as systems can replace a human job, what cannot be replaced is the emotion factor.
AI systems operate purely on logic and because of this they cannot create a connection with a user like a human would.
A good example of this case is chatbots which yes give quick and automated responses, but it is difficult to show a 100% human face.
Undoubtedly, the AI industry has various advantages and disadvantages that anyone who wants to invest in it should be aware of.
Having therefore covered some key points, we can summarise.
So we have seen what artificial intelligence is, as well as its positives and negatives.
One thing is for sure, a successful AI system cannot work without the proper use of data.
So if you are interested in the field of Data Science and would like to delve into it to grow professionally, you can book a FREE session with one of our mentors!