Benefits and Risks of Artificial Intelligence


Benefits and Risks of Artificial Intelligence

Humans have always dreamed of building machines with decision-making capabilities. For a long time, it was considered a reality that sounded too good to be true and was only seen in various science-fiction movies. This far-fetched dream became a reality with self-driving cars and applications like SIRI. Artificial Intelligence came into being and kept progressing rapidly since. And even today, the concept behind AI is often associated with just human-like characters and robots, while in reality, the concept encompasses everything from the autonomous weapons, to smart watches, and Google's search algorithm.

Today, artificial intelligence is also known as weak AI (or narrow AI) since it is designed to carry out a more specific task such as only driving a car, or performing internet searches, or facial recognition, etc. On the other hand, the main aim behind the concept has been to create a strong AI or general AI so that AI can outperform humans in a variety of different tasks, including the common ones like solving equations or playing chess.

AI is the ultimate source behind everything, be it Sales Enablement Software, digital assistants, or even making the most out of the Learning Management Platform. Regardless of all the conveniences and benefits that artificial intelligence is responsible for, there has always been a debate around the concept since its inception. Some believe it is the ultimate way of catapulting human civilization to a whole new level of success while others think it's the way humans are planning their own end.

So without further ado, let's jump onto the AI pros and cons to see if we can pick a side for the debate too.  

AI Benefits

Machines built with artificial intelligence use machine learning algorithms to mimic the cognitive capabilities of human beings. This means that machines can now efficiently carry out both simple and complex problems.

Improve Work Efficiency

Repetitive tasks often cause redundancy and monotony for human beings. AI-powered machines are great for carrying out such repetitive tasks without compromising on efficiency. Also, there's no space for human errors, which means you can get more accurate results even in repetitive tasks.

Unlike humans, machines can work without a break, round the clock. They can easily replace two employees working in different shifts and can carry out important tasks without incurring an additional cost. Instead of hiring customer-relation officers, organizations deploy AI-powered chatbots to provide support and assist customers with queries.

High-Level Accuracy

Through machine learning, AI-operated machines can perform critical tasks and solve complex equations on their own and offer highly-accurate results as compared to human beings. Regardless of the efficiency, there's always a risk for human errors. Since AI-based machines work on algorithms, this loophole can be eliminated completely. This particular benefit has made these machines indispensable to operate even in the medical fields.

Scientists are working on robots that are not only capable of diagnosing sensitive conditions but also performing high-risk, delicate surgeries to minimize the risks as much as possible.

Reduced Cost of Operation and Training

AI utilizes machine learning algorithms like neural networks and Deep Learning to learn new and innovative things, just like humans. This eliminates the requirement for writing new codes and learning new things.

The R&D department exclusive to Artificial Intelligence is constantly working to develop AI machines that do not only learn the new processes faster but also optimize the machine learning abilities. This reduces the cost of training and operations by a great deal. Additionally, deploying machines in place of employing human resource already reduce the cost of operations due to the high level of accuracy and efficiency to do work.

Improved Processes

The benefits of utilizing the AI-powered machine is that it allows us to gather a massive amount of information related to work. This data is essential for the growth of an organization as it allows getting into deep insights and carries out a detailed quantitative analysis for further optimization.

The machine learning abilities of the AI-based machines are enabling their capabilities of carrying out self-analysis in the most efficient way possible.

AI Risks

As mentioned earlier, the subject has always been a magnet to controversies and debate. Artificial intelligence is feared by various tech pundits, scientists, and regular citizens as well. In fact, the negative aspect has been captured and covered quite prominently in the form of science fictions movies depicting dystopian futures, where these machines took over the entire planet and caused nothing but destruction.

So how true could this be? Let's check these cons associated with artificial intelligence.

It is Unsustainable

AI-based machines are characteristically high in computing powers and thus require several processors to operate. One of the major constituents that make these computer chips is selenium, a rare earth material. Also, the batteries for the majority of these machines run on Lithium.

To run these machines, it is required to mine for these materials, which can damage our environment at a rapid pace. Moreover, these AI machines also consume massive power to operate, which puts additional pressure on power plants, further contributing to damaging the environment.

Lesser Job Opportunities

In simple words, machines are replacing human beings. The work that once needed several people to complete can now be taken care of by a single machine. And since machines do repeatable and routine tasks much better than humans, more and more organizations are inclined towards deploying more of these efficient machines as compared to human beings.

This helps the organization reduce cost, increase their profitability, and overall success rate. However, this is achieved by sacrificing a number of job opportunities that keep the human workforce engaged.

Final Word

Just like any other popular concept, AI pros and cons have been the talk of the town. While there are concerns associated with AI risks, one cannot ignore the convenience and benefits the growing AI stability is bringing with it.

To learn more about artificial intelligence, and the way its constantly growing, get in touch with one of our experts and get all your questions answered! 

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