With all the hype around Artificial Intelligence - robots, self-driving cars, etc. - it can be easy to assume that AI doesn’t impact our everyday lives. In reality, most of us encounter Artificial Intelligence in some way or the other almost every single day. From the moment you wake up to check your smartphone to watching another Netflix recommended movie, AI has quickly made its way into our everyday lives. According to a study by Statista, the global AI market is set to grow up to 54 percent every single year. But what exactly is AI? Will it really serve good to mankind in the future? Well, there are tons of advantages and disadvantages of Artificial Intelligence which we’ll discuss in this article.
Read More: From a mother and a grandmother to also becoming an AI professional. Julie Beers says there’s nothing we can do if we put our mind to it! Read more about her motto and her experience with our Caltech Artificial Intelligence & Machine Learning Bootcamp in her Simplilearn AI Machine Learning Bootcamp Review.
What is Artificial Intelligence?
Before we jump on to the advantages and disadvantages of Artificial Intelligence, let us understand what is AI in the first place. From a birds eye view, AI provides a computer program the ability to think and learn on its own. It is a simulation of human intelligence (hence, artificial) into machines to do things that we would normally rely on humans. There are three main types of AI based on its capabilities - weak AI, strong AI, and super AI.
- Weak AI - Focuses on one task and cannot perform beyond its limitations (common in our daily lives)
- Strong AI - Can understand and learn any intellectual task that a human being can (researchers are striving to reach strong AI)
- Super AI - Surpasses human intelligence and can perform any task better than a human (still a concept)
Advantages & Disadvantages of Artificial Intelligence
An artificial intelligence program is a program that is capable of learning and thinking. It is possible to consider anything to be artificial intelligence if it consists of a program performing a task that we would normally assume a human would perform. Let's begin with the advantages of artificial intelligence.
Advantages of Artificial Intelligence
1. Reduction in Human Error
One of the biggest advantages of Artificial Intelligence is that it can significantly reduce errors and increase accuracy and precision. The decisions taken by AI in every step is decided by information previously gathered and a certain set of algorithms. When programmed properly, these errors can be reduced to null.
2. Zero Risks
Another big advantage of AI is that humans can overcome many risks by letting AI robots do them for us. Whether it be defusing a bomb, going to space, exploring the deepest parts of oceans, machines with metal bodies are resistant in nature and can survive unfriendly atmospheres. Moreover, they can provide accurate work with greater responsibility and not wear out easily.
3. 24x7 Availability
There are many studies that show humans are productive only about 3 to 4 hours in a day. Humans also need breaks and time offs to balance their work life and personal life. But AI can work endlessly without breaks. They think much faster than humans and perform multiple tasks at a time with accurate results. They can even handle tedious repetitive jobs easily with the help of AI algorithms.
4. Digital Assistance
Some of the most technologically advanced companies engage with users using digital assistants, which eliminates the need for human personnel. Many websites utilize digital assistants to deliver user-requested content. We can discuss our search with them in conversation. Some chatbots are built in a way that makes it difficult to tell whether we are conversing with a human or a chatbot.
We all know that businesses have a customer service crew that must address the doubts and concerns of the patrons. Businesses can create a chatbot or voice bot that can answer all of their clients' questions using AI.
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5. New Inventions
In practically every field, AI is the driving force behind numerous innovations that will aid humans in resolving the majority of challenging issues.
For instance, recent advances in AI-based technologies have allowed doctors to detect breast cancer in a woman at an earlier stage.
6. Unbiased Decisions
Human beings are driven by emotions, whether we like it or not. AI on the other hand, is devoid of emotions and highly practical and rational in its approach. A huge advantage of Artificial Intelligence is that it doesn't have any biased views, which ensures more accurate decision-making.
7. Perform Repetitive Jobs
We will be doing a lot of repetitive tasks as part of our daily work, such as checking documents for flaws and mailing thank-you notes, among other things. We may use artificial intelligence to efficiently automate these menial chores and even eliminate "boring" tasks for people, allowing them to focus on being more creative.
Example: In banks, it's common to see multiple document checks to obtain a loan, which is a time-consuming task for the bank's owner. The owner can expedite the document verification process for the advantage of both the clients and the owner by using AI Cognitive Automation.
8. Daily Applications
Today, our everyday lives are entirely dependent on mobile devices and the internet. We utilize a variety of apps, including Google Maps, Alexa, Siri, Cortana on Windows, OK Google, taking selfies, making calls, responding to emails, etc. With the use of various AI-based techniques, we can also anticipate today’s weather and the days ahead.
Example: About 20 years ago, you must have asked someone who had already been there for instructions when you were planning a trip. All you need to do now is ask Google where Bangalore is. The best route between you and Bangalore will be displayed, along with Bangalore's location, on a Google map.
9. AI in Risky Situations
One of the main benefits of artificial intelligence is this. By creating an AI robot that can perform perilous tasks on our behalf, we can get beyond many of the dangerous restrictions that humans face. It can be utilized effectively in any type of natural or man-made calamity, whether it be going to Mars, defusing a bomb, exploring the deepest regions of the oceans, or mining for coal and oil.
For instance, the explosion at the Chernobyl nuclear power facility in Ukraine. As any person who came close to the core would have perished in a matter of minutes, at the time, there were no AI-powered robots that could assist us in reducing the effects of radiation by controlling the fire in its early phases.
10. Faster decision-making
Faster decision-making is another benefit of AI. By automating certain tasks and providing real-time insights, AI can help organizations make faster and more informed decisions. This can be particularly valuable in high-stakes environments, where decisions must be made quickly and accurately to prevent costly errors or save lives.
11. Pattern identification
Pattern identification is another area where AI excels. With its ability to analyze vast amounts of data and identify patterns and trends, AI can help businesses and organizations better understand customer behavior, market trends, and other important factors. This information can be used to make better decisions and improve business outcomes.
12. Medical Applications
AI has also made significant contributions to the field of medicine, with applications ranging from diagnosis and treatment to drug discovery and clinical trials. AI-powered tools can help doctors and researchers analyze patient data, identify potential health risks, and develop personalized treatment plans. This can lead to better health outcomes for patients and help accelerate the development of new medical treatments and technologies.
Let us now look at what are the main disadvantages that Artificial intelligence holds.
Disadvantages of Artificial Intelligence
1. High Costs
The ability to create a machine that can simulate human intelligence is no small feat. It requires plenty of time and resources and can cost a huge deal of money. AI also needs to operate on the latest hardware and software to stay updated and meet the latest requirements, thus making it quite costly.
2. No creativity
A big disadvantage of AI is that it cannot learn to think outside the box. AI is capable of learning over time with pre-fed data and past experiences, but cannot be creative in its approach. A classic example is the bot Quill who can write Forbes earning reports. These reports only contain data and facts already provided to the bot. Although it is impressive that a bot can write an article on its own, it lacks the human touch present in other Forbes articles.
One application of artificial intelligence is a robot, which is displacing occupations and increasing unemployment (in a few cases). Therefore, some claim that there is always a chance of unemployment as a result of chatbots and robots replacing humans.
For instance, robots are frequently utilized to replace human resources in manufacturing businesses in some more technologically advanced nations like Japan. This is not always the case, though, as it creates additional opportunities for humans to work while also replacing humans in order to increase efficiency.
4. Make Humans Lazy
AI applications automate the majority of tedious and repetitive tasks. Since we do not have to memorize things or solve puzzles to get the job done, we tend to use our brains less and less. This addiction to AI can cause problems to future generations.
5. No Ethics
Ethics and morality are important human features that can be difficult to incorporate into an AI. The rapid progress of AI has raised a number of concerns that one day, AI will grow uncontrollably, and eventually wipe out humanity. This moment is referred to as the AI singularity.
Since early childhood, we have been taught that neither computers nor other machines have feelings. Humans function as a team, and team management is essential for achieving goals. However, there is no denying that robots are superior to humans when functioning effectively, but it is also true that human connections, which form the basis of teams, cannot be replaced by computers.
7. No Improvement
Humans cannot develop artificial intelligence because it is a technology based on pre-loaded facts and experience. AI is proficient at repeatedly carrying out the same task, but if we want any adjustments or improvements, we must manually alter the codes. AI cannot be accessed and utilized akin to human intelligence, but it can store infinite data.
Machines can only complete tasks they have been developed or programmed for; if they are asked to complete anything else, they frequently fail or provide useless results, which can have significant negative effects. Thus, we are unable to make anything conventional.
Advantages and Disadvantages of Artificial Intelligence - The Bottom Line
Now that you know both the advantages and disadvantages of Artificial Intelligence, one thing is for sure has massive potential for creating a better world to live in. The most important role for humans will be to ensure that the rise of the AI doesn’t get out of hand. Although there are both debatable pros and cons of artificial intelligence , its impact on the global industry is undeniable. It continues to grow every single day driving sustainability for businesses. This certainly calls for the need of AI literacy and upskilling to prosper in many new age jobs. Simplilearn’s Caltech Post Graduate Program in AI & ML will help you fast track your career in AI and prepare you for one of the world’s most exciting jobs. This program covers both AI basics and advanced topics such as deep learning networks, NLP, and reinforcement learning. Get started with this course today and build your dream career in AI.