Introduction
With all the excitement surrounding artificial intelligence (AI)—robots, self-driving cars, etc.—it's simple to think that AI has no bearing on day-to-day activities. In actuality, practically every day, the majority of us come into contact with artificial intelligence in one form or another. AI has swiftly assimilated into our daily life, from the moment you wake up to check your smartphone to seeing another Netflix-recommended film. A Statista analysis projects that the global AI market will expand by up to 54% annually. However, what precisely is artificial intelligence? Will it actually benefit humanity in the long run? We'll talk about a few of the many benefits and drawbacks of artificial intelligence in this post. But first, let's quickly review what artificial intelligence is before delving into its benefits and drawbacks.
Artificial intelligence: what is it?
Let's first examine what artificial intelligence is and then move on to discussing its benefits and drawbacks. In a nutshell, artificial intelligence (AI) gives a computer program the capacity for independent thought and learning. Artificial intelligence refers to the simulation of human intelligence in computers that do tasks for which humans are often needed. Depending on what it can do, artificial intelligence can be divided into three categories: weak, strong, and super.
- Weak AI: It can only focus on a single task and cannot function outside its constraints (common in our daily lives)
- Strong AI: The goal of study is to develop powerful artificial intelligence (AI) that is capable of understanding and learning any intellectual work that a human can.
- Super AI: Thinks and acts like a human, but is still in the concept stage. It is intelligent beyond human limits.
What Benefits And Drawbacks Does AI Offer?
AI has been the topic of innumerable discussions all around the world, but given how quickly it is becoming a part of our daily lives, its advantages and disadvantages are now more important than ever.
Benefits of Artificial Intelligence
1. Diminish Human Errors
The ability of AI to reduce human mistakes is one of its biggest benefits. Because AI systems are designed to perform tasks with exacting attention to detail, there is a lower chance of errors arising from human error or exhaustion.
Example:
AI-powered tools, for instance, are utilized in the healthcare sector to examine medical images and find anomalies like tumors or fractures. These AI programs offer extremely accurate analysis, reducing the possibility of human error in diagnosis—which could have detrimental effects on one's health.
2. Constant Accessibility
AI systems are available 24/7 since they are able to function continuously, unlike humans. In customer service businesses, where AI-powered chatbots can handle client concerns at any time of day, increasing customer satisfaction and efficiency, this round-the-clock availability is especially beneficial.
Example:
For example, banks use AI to answer consumer questions instantaneously, no matter what time of day, greatly cutting down on the wait times that customers would often have when dealing with human agents.
3. Digital Support
Some of the most technologically advanced businesses use digital assistants to interact with people, doing away with the necessity for human staff. Digital assistants are widely used by websites to deliver content that users have requested. We can converse with them about our search. Certain chatbots are designed in a way that makes it challenging to distinguish between a human and a chatbot during a conversation.
Example:
It is common knowledge that companies have a customer care team that responds to customers' questions and worries. Companies can use AI to build a voice or chatbot that can respond to any query from a customer.
4. Neutrality
When properly built and trained, artificial intelligence (AI) systems are capable of making decisions without human prejudice. Artificial intelligence (AI) has the capacity to make decisions solely on the basis of factual information and preprogrammed algorithms because, in contrast to humans, it is emotionless and free from bias.
Example:
AI, for instance, can be used to remove gender, racial, and physical biases from the recruiting process by objectively screening applicants based on their experience, education, and talents. Similar to how AI may assess applicants only based on their creditworthiness and financial records, rather than considering personal variables, when approving loans or calculating credit scores. Fairness and equality can be promoted in a number of domains by the objectivity and neutrality in decision-making that AI offers.
5. Carry Out Repeated Tasks
As part of our regular work, we will be performing a lot of repetitive duties, like mailing thank-you cards and inspecting documents for errors, among other things. Artificial intelligence may be used to effectively automate these mundane operations and perhaps free humans from doing "boring" work so they may concentrate on becoming more creative.
Example:
An illustration of this would be the use of robots in manufacturing assembly lines, which are capable of rapidly and accurately performing repetitive operations like welding, painting, and packaging, thus lowering costs and increasing efficiency.
6. New Inventions
AI is the engine behind a plethora of innovations in almost every industry that will help humans solve most difficult problems.
Example:
Doctors can now identify breast cancer in women sooner because of recent advancements in AI-based technologies.
7. Every Day Utilizations
These days, the internet and mobile gadgets play a crucial role in our daily lives. Many apps are used by us, such as OK Google, Cortana on Windows, Alexa, Siri, Google Maps, and others. We also use them for shooting selfies, making calls, and replying to emails. We can also predict the weather for today and the coming days by utilizing a variety of AI-based methodologies.
Example:
When you were organizing a trip, you probably asked someone who had been there before 20 years ago for directions. To find Bangalore, all you have to do now is ask Google. Bangalore's location will be shown on a Google map along with the best path between you and Bangalore.
Disadvantages of Artificial Intelligence
1. Expensive prices
It is no mean task to build a machine capable of mimicking human intelligence. It can be extremely expensive and time- and resource-consuming. Artificial Intelligence is highly expensive because it requires the newest gear and software to function and stay up to date with requirements.
2. Absence of Feeling and Originality
Although artificial intelligence (AI) is remarkably accurate and efficient at many tasks, it lacks human emotional intelligence and creativity. This implies that AI systems are unable to recognize or communicate emotions, which may hinder their capacity to communicate with people in a meaningful way.
3. The Jobless Rate
Robots are one use of artificial intelligence that is increasing unemployment and, in certain situations, dislodging occupations. Because chatbots and robots will eventually replace humans, some argue that unemployment is a constant risk.
4. Absence of Ethics
It can be challenging to include morals and ethics, two crucial human traits, into an AI. The speed at which artificial intelligence is developing has sparked worries that humans may eventually become exterminated by AI. We call this point in time the AI singularity.
In Summary
In the end, there is no denying artificial intelligence's impact on our lives and industries. It brings with it a number of benefits but also some difficulties. As time goes on, it will be crucial to carefully negotiate the complexity of AI, aiming for a balance that optimizes advantages while minimizing downsides. This will prepare us to properly embrace the revolutionary power of AI, which will require careful planning, suitable rules, and a commitment to ethical norms.