Artificial Intelligence sits on the frontiers of scientific discovery and improved processes of all types. But is this cutting-edge technology all advantages?
Advantages of AI
Eradicate Human Error
If AI excels at anything it’s being meticulous, AIs can help eradicate the advent of human error by making decisions based on machine to machine learning. Human error can be a considerable problem. Experts from Harnham say that it is the cause of 23% of unplanned downtime in manufacturing, as opposed to only 9% in other areas. An AI can perform the same tasks humans are performing without failures.
Our technological society relies on data more than ever to power all types of business, an AI can help to process and analyze this data quickly and efficiently. In a sales campaign, the AI can handle lead generation. Operating off data previously collected, the AI can decide which sales representative receives which lead for precision results.
Since the Industrial Revolution, automation has proffered unlimited benefits to business ventures of all types. After all, it means that productivity is increased as well as efficiency. This means that the overhead costs of production are reduced as well and this means profits. One of the most obvious examples of AI application here is in the use of Chatbots, which are taking over all the customer support and technical FAQs. Although their conversational levels are rudimentary at best, they are more than capable of handling the easier questions that most people have in mind.
One of the biggest problems with employing AI is their considerable costs. An AI will need to be properly maintained, repaired and upgraded to function properly and this is not cheap. As new programs and upgrades are made available, more advanced machines may be needed to support their operations. Then, if something were to break down the repair work could be complex and time-consuming, effectively nullifying all previously stated advantages.
Losing the human touch
While AIs are amazing at doing what they are supposed to do and making sharp decisions quickly based on their previous performance, they lack the capacity humans have to provide insight and improvements through experience. Humans have lateral thinking that allows them to circumvent potential problem, an AI will simply get stuck in a loop or fritz out when it encounters an error it can’t address.
Even the most advanced AI is still a software that can be left vulnerable to attack from malicious hackers. Cybercriminals have creative ways to sneak around protocols and mess with an AIs processes exposing sensitive data and corrupting systems to any extent. The result of an attack on such a central business component would be the shutdown of an entire company.
The double-edged sword of AI
Because AI is still in its budding stages, there are many more disadvantages and advantages that will be manifest as its application becomes more common in the business world. Nevertheless, even now the potential advantages far outweigh the disadvantages of AI use.