Artificial Intelligence (AI) presents endless opportunities to revolutionize technology in every industrial sector. As the moral and scientific debate on its use intensifies, this article highlights the merits and demerits of AI.
Artificial Intelligence (AI) has graduated from Hollywood Fiction to Grass root Reality. From self-driving cars to interactive humanoids, from data management to weather protection, AI is everywhere. As it becomes practically and socially acceptable norm, policymakers are debating whether it is a boon or a bane? Before discussing the merits and demerits of AI, let’s understand the term first.
Artificial Intelligence (AI): AI is the science and engineering of making intelligent algorithms, machines, and systems. These machines are capable of making decisions and performing tasks like humans. AI aims to understand how a human brain works and design algorithms. As a technical field, AI requires a sound knowledge of areas like Neuroscience, Psychology, Mathematics, Computer Science, etc.
After explaining the term briefly, let’s discuss the benefits and demerits of Artificial Intelligence.
Benefits of Artificial Intelligence
Artificial Intelligence offers several benefits with endless opportunities in every business. Here are some of the most crucial advantages of Artificial Intelligence.
- AI Minimizes Human Error
Since machines take decisions based on a predefined set of rules and data, AI reduces the chances of human error. AI offers a significant improvement in the calculations of complex problems. In a large enterprise, data transactions take place between several customers and employees. AI algorithms provide error-free data handling in a short time. Therefore, AI helps in keeping the integrity of data and saving considerable time to process it.
- AI Provides Consistent Decision Making
Quite often, emotions take the front seat in the decision-making process of humans. The absence of emotions in machines makes its decisions more consistent and prompt. Additionally, they take considerably less time to make these decisions. Perhaps the most suitable example is the AI-driven healthcare systems. Apart from minimizing the occurrences of false diagnostics, AI-based healthcare systems improve the efficiency and consistency of treatment as well.
- AI Systems Can Work Round The Clock
Another chief advantage of Artificial Intelligence is that they can work continuously. Unlike humans, these robust AI systems do not experience wear and tear. Designed to work consistently for hours, these systems offer a significant improvement over humans. More importantly, their efficiency is independent of external factors. As a result, AI systems help overcome human limitations in critical industries, like mining and deep-sea explorations.
- AI Assists in the Day to Day Activities
AI has the potential to revolutionize the way we perform our daily chores at work. These systems can replace humans to work on monotonous and routine tasks more responsibly. For example, you can automate the scheduling of meetings and send reminders to your colleagues for the same. By assigning these routine and mundane tasks to a machine, you can concentrate on the creative aspects of your work, and become more efficient.
- AI as a Personal Assistant
Apart from assisting at tasks at work, AI-driven personal assistants can significantly improve the way we perform our daily chores at home. People are extensively using smart voice-controlled assistants like Siri and OK Google for day to day activities. From reading you the news to playing songs, from searching for a location to making a phone call, from taking a selfie to scheduling an alarm, they are helpful in every sphere of our life.
- AI Can be Life-Saving
Perhaps the best advantage of Artificial Intelligence lies in medical applications. By assisting doctors, AI helps in a fast diagnosis of medical conditions. Similarly, AI has helped in boosting the accuracy and speed of treatments and medicines. AI-powered smartwatches, a recent trend in human accessories, have proven to be life-saving. These watches monitor the vitals of a person to detect health issues and can even alert the medical services.
- AI Provides Efficient Data Management And Security
AI algorithms can offer an improved approach to manage large amounts of data efficiently. Apart from managing the data categorically, AI helps in maintaining its privacy. You can use AI to protect the data within your organization and from outside agencies as well. For example, by implementing level-based data access, you can control the flow of sensitive information within your organization. Similarly, intelligent firewalls help to protect your data from breach by hackers.
- AI Protects Your Money
As we stride into a digital era, we perform most of our financial transactions online. While online payments give us the luxury of getting products and services from the comfort of our home, they can be unsafe. All leading banks use Artificial Intelligence in one way or another for fraud detection and prevention by tracking the financial activity of users. With robust encryptions and security measures, AI makes it practically impossible for others to access your account.