The collection of adequate data, processing, and analytics for vital insights have become the backbone of decision-making for almost all businesses today. But the volume and variety of data generated by humans and sensors cannot be handled by humans at scale. This data has been the seeds of modern AI, with data scientists describing the process of human thinking as the mechanical manipulation of symbols and eventually the invention of AI. Along with this came the discussion on the advantages and disadvantages of Artificial Intelligence (AI).
Machine Learning and Deep Learning, the two important subsets of Artificial Intelligence, have become valuable and effective tools for interpreting and analyzing data for businesses of all types. Artificial Intelligence has certain advantages and disadvantages which must be considered from a holistic point of view. In this article, we will be discussing the concepts, stages of development, pros and cons, use cases, and what is the future of AI. Learn more about Data Science courses in India to get started and build a strong foundation in Data Science for understanding AI and its applications better.
What is Artificial Intelligence?
Artificial Intelligence, or AI, is a technology that allows a computer program to learn, reason, and act on its own. It's a machine-to-machine emulation of human intellect that makes them do things that humans normally do. In simplest terms, AI refers to a device's ability to function similarly to human intelligence and perform tasks that humans would perform.
AI improves the way we think and the way we explore new horizons. AI boosts our ability to imagine and explore new possibilities. Data Science certification program can help you break into the IT business by teaching you the fundamentals of AI and how to use it. It will help you attain the knowledge and curate your own set of skills. There are three main types of Artificial Intelligence depending on their capabilities. Let us have a look at them.
a. Weak or Narrow Artificial Intelligence
Weak AI focuses only on one task. It has certain limitations. Thus, Weak AI cannot perform beyond its limits. It performs only one task at a time.
b. Strong or General Artificial Intelligence
Strong AI is capable of understanding and learning the tasks that any human being can do. It can work beyond its limitations to understand, learn, and act accordingly.
c. Super Artificial Intelligence
As the name suggests, Super AI surpasses human intelligence and can perform any task better than any human would have performed. (It is still a concept that will sooner or later come into being.)
Pros and Cons of Artificial Intelligence
| Pros of AI | Drawbacks/Cons of AI |
|---|
| AI is highly accurate and its use reduces human error | AI increases human dependency on machines which can lead to laziness. |
| AI allows automating repetitive tasks in different industries | AI implementation requires businesses to invest in advanced infrastructure and training the employees which makes AI expensive. |
| AI can easily handle and process Big Data | AI implementation can likely cause an increase in unemployment as AI systems can perform work of multiple human workers at once |
| AI can fetch insights faster from processed data which allows faster Decision-Making. AI also has continuous availability and does not require breaks like humans. | AI uses a set of algorithms for predictions which makes AI systems practical. These are less creative and innovative in challenging situations. |
| AI-powered Digital Assistants can easily interact with customers and reduce workloads of customer service staff by resolving customer queries through chats. | AI cannot understand emotions which is a key aspect in sales and marketing |
| AI helps to mitigates risks as AI systems can be deployed in environment which are hazardous to humans. | It is difficult to implement ethics in AI systems. |
| AI can uncover trends and patterns from a given dataset faster than humans which makes AI suitable for decision-making. |
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| AI systems can assist organizations in designing and improving processes as well as workflows |
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Advantages of Artificial Intelligence
In real-world applications, AI is revolutionizing various industries through many advantages it has to offer in the following ways:
1. By Reducing Human Error
- It is likely for humans to make mistakes in tedious and monotonous tasks, but computers can avoid such errors if programmed correctly.
- AI models make predictions by applying algorithms to the compiled data, thereby reducing errors and improving accuracy.
- Hence, achieving better results and fewer mistakes is possible. This can save both time and resources. So, organizations tend to increase their investments in AI for leveraging big data.
2. Allows Automating Repetitive Tasks
- Repetitive tasks and processes continue to be a significant aspect of many occupations today.
- This does not allow using the full potential of human employees.
- AI enables automation of routine monotonous tasks in different areas of data collection and entry, email responses, customer support through chatbots, factory operations such as visual quality inspection, software testing, invoice generation, and many more.
- This can undoubtedly free up the employees' time to focus on creativity or other areas that require distinctively human abilities.
3. Easily Handles Big Data
- AI can process and make sense of big data in very less time.
- It can quickly capture data and extract relevant data for analysis. However, that's not all, as AI can also further process this data through interpretation and transformation.
4. Faster Decision-Making with Continuous Availability
- Organizations are always keen on faster decision-making to respond to today's dynamic markets.
- But for faster decision-making, it is essential to have reliable insights available at a faster pace.
- AI, along with various technologies, enables machines to bring consolidated information and predictions to assist in faster decision-making.
- Additionally, AI also improves the process every time with previous predictions. Besides, AI systems can be continuously available, ensuring continual availability 24/7 with breaks (other than planned maintenance activities). This significantly impacts the company's productivity.
5. AI-powered Digital Assistants
- Many businesses today have implemented digital assistants (chatbots) for customer interactions.
- A chatbot can significantly reduce the need for excessive customer service staff for routine and simple customer queries.
- Chatbots can smartly interact with the customer and provide relevant information on demand.
- Voice assistants like Alexa and Siri are examples of voice bots that respond to voice commands and assist users with queries and personal management tasks.
6. Mitigates Risks
- A highly notable advantage of AI application is in areas that are hazardous to humans.
- AI systems can minimize the risks involved for humans in such tasks. For example, AI-enabled robots can undertake risky tasks such as coal mining, marine life exploration, assisting in rescue operations during natural disasters, and so on.
7. Pattern Identification
- AI outperforms human talents when spotting patterns in words, figures, or images.
- AI effectively discovers trends and patterns in a dataset and, as a result, can generate more accurate predictions faster.
- This is crucial for companies as they can visualize the bigger picture for better decision-making.
- For example, with such trends and patterns, AI can improve the marketing analytics capabilities of any organization.
8. Improving Processes and Workflows
- Companies strive to find ways to work more efficiently, increase productivity, and boost revenues.
- An important part of this includes developing better human workflows. It might be possible to achieve higher efficiency by designing workflows that reduce error and rework by humans.
9. Medical Applications and Treatments
- The best thing that has ever happened to humans is AI being involved in medical applications and treatments.
- Doctors can assess their patients and their health risks quickly with AI. The growing applications of AI used in medical science also help educate the machines regarding the side effects of various medicines.
- Nowadays, medical professionals are trained with artificial surgery stimulators that help monitor and detect neurological disorders and stimulate brain functions.
- AI also helps in radiosurgery. It is used while operating on tumors without damaging the surrounding tissues.
- The growing applications of AI used in medical science also help educate the machines regarding the side effects of various medicines.
10. 24x7 Availability
- Many studies have been conducted, and it has been proved that humans are productive only for three to four hours a day.
- They demand breaks and time off to maintain a healthy work-life balance. This is where artificial intelligence (AI) enters the picture.
- AI can work indefinitely without taking a break or vacation. Machines can think much faster than humans and perform multiple tasks simultaneously while giving accurate results.
- Unlike humans, they are programmed to work for longer hours without getting bored or distracted. They can also handle tedious and monotonous jobs easily with the help of AI algorithms. Check out the online Bootcamp Data Science programs that can help you grasp relevant Data Science and AI concepts.
Disadvantages of Artificial Intelligence
Although AI offers several advantages, it still has a few disadvantages mentioned below:
1. More Likely to Increase Human Laziness
- Automation in tasks and increased availability of digital assistants tend to increase machine dependency, which can likely increase human laziness.
- Too much relying on AI for simple tasks such as small calculations or remembering numbers or addresses can affect humans in their day-to-day activities, which require memorization or analysis.
- Conscious use of AI is crucial to avoid negative effects on future generations.
2. AI is Expensive to Implement
- Initial set-up for AI requires a high investment as companies have to invest in AI frameworks, including the latest hardware and software.
- Additional costs are incurred on training teams to learn how to utilize the AI systems. All this makes implementing and maintaining AI systems expensive.
3. Can Increase Unemployment
- Although AI can replace repetitive tasks and other types of manual work, which is beneficial for organizations, this also has a negative impact on employment.
- Conventional jobs will likely be completely replaced by AI in the future, leading to the unemployment of individuals who perform them.
4. Lacks Creativeness
- Since AI systems make predictions based on a set of algorithms, these can lack creativity, especially in the content marketing field.
- As AI systems improve over time from inputs and experience, they cannot think outside the box or generate creative approaches to a project.
5. Cannot Understand Emotions
- AI systems can work faster and without a break, but they cannot evaluate emotions before making decisions.
- These systems always remain highly rational and practical. This is why AI systems find it challenging to bring in emotions while interacting with customers, as emotions play a key role in sales and marketing while convincing a customer to make a purchase.
6. Difficult to Implement Ethics
- Finally, AI systems cannot process human emotions and feel them. It is highly challenging to incorporate ethics and morality into these systems.
- Advanced versions of AI like the theory of mind and Self-awareness, when achieved, can only implement ethical behaviour in AI systems.
- Currently, these systems are on paper and only partly achieved; it looks a long way to think about implementing ethics in AI systems. Also, take a look at the details on skills to become an AI & ML engineer.
Source: deviniti.com
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Conclusion
Artificial Intelligence has massive potential to create a better place to live in. The most important thing is to ensure that AI isn’t used excessively. Although there are advantages and disadvantages of Artificial Intelligence, its impact on the global industry is undeniable.
By taking up an Artificial Intelligence (AI) course , you can get promoted according to your experience and learn the type of work done with AI. With different courses available, one can train, learn, and develop in technology and management. In a nutshell, everything will move quickly, resulting in substantial changes and advances. So, enrol in these courses and learn the necessary skill sets to effectively collaborate with AI in enterprises. For the next steps, check out our blog posts about data science vs artificial intelligence.
