What are the AI Advantages and Disadvantages? All You Need to Know

Artificial intelligence is becoming the new face of industries. Since its transformation from the theoretical stage into the practical one, there have been many significant changes in AI.

From reaping its benefits along the way, like introducing 24×7 support, there have been several disadvantages to AI as well.

Forbes data predicts that automation may lead to 73 million job losses in the US by 2030. This fast development has multiple AI advantages and disadvantages that we will be looking into today.

What is AI?

AI means ‘intelligent’ machines with the ability to have ‘thinking’ capabilities much like the human brain possesses. These systems are capable of solving problems that previously were solved using human-like abilities that include vision, speech, learning, choosing, and translating language.

Artificial Intelligence systems consist of many connected algorithms that work by applying analytical functions to large sets of data to recognize relationships. Some of these algorithms are so developed to get better with time via a process known as machine learning whereby the system gets to learn from whatever it is processing. It hence makes AI valuable in solving problems and causes innovations due to the capacity to learn and adapt.

What are the advantages of AI?

With the introduction of AI in the mid-1900s, many tasks have been made easy. Some of the advantages of AI are as follows:

Controls human error

AI helps minimize erogenous errors since it eliminates the aspects that are normally conducted manually and often produce errors. Computational methods operate with data, which provides reliability and efficacy to the results. For instance, in healthcare, using AI in the diagnosis of medical images enhances accuracy.

24/7 support

AI systems do not get fatigued, and therefore patient support can be provided around the clock. The following are useful in customer relations as AI chatbots respond to any queries at any given time increasing customer satisfaction. Hence AI virtual assistants reduce wait times and service availability.

Helps in Faster Decision Making

They help in processing the patterns and data quickly and present insightful action which in turn helps in faster decision making. AI can compute various data and multitask in a single go and hence can make informed decisions quickly. 

Minimizes Risk

Various actions are very hazardous to humans but can be performed with ease by an AI robot. Hence they help in reducing the risk by performing hazardous tasks.

Automation of Repetitive Work

They help in mitigating tasks that are very repetitive and boring and thus help by freeing up human resources. Some examples where AI can help in the automation of repetitive work are data entry, report generation, etc.

Digital Assistants

There are various digital assistants in this present age like Siri, Alexa, and Google Assistant which can help in managing schedules, playing music and even turning off electronic appliances at home using just voice commands.

Pattern Analyzing

They excel in analyzing patterns in data and making it extremely valuable in big and crucial industries like the medical and financial sectors.

Large Data Set

AI can work on large data sets which are sometimes out of the scope of a human. Thus they free up human resources and also perform the job with ease and quickly as well.

What are the Disadvantages of AI?

Just like a coin has two sides, AI also has disadvantages. They are as follows:

Development is Costly

The creation of AI systems entails considerable capital in computers, software, and professionals retaining the knowledge. Some of the reasons that make the solution costly are the high cost of development and also the cost of maintaining it.

Lack of Creativity and Emotion

AI does not have the creativity and emotional intelligence as seen in human beings. AI is learning from the past to make decisions but that is a far cry from instinct and empathy in the subject matter area. This drawback is especially noticeable in professions that involve solving complex issues and personal relations, primarily aesthetic ones, including arts and therapy.

Wear and Tear, Degradation

AI systems are imposed the same way as any system and could deteriorate over some time. Often it requires performance tweaks, for which it is necessary to conduct maintenance and updates, which takes a significant amount of time and money. 

Same Level of Experience

AI systems can only be as accurate as the data that they are calibrating from, which is true. If they analyze from biased data they will cause biased results. Furthermore, it cannot develop experience and enhance its wisdom from the events of life meaning that it cannot easily adapt to complex and unknown situations.

Impacts on Job

The delegation of tasks by AI can result in job loss in certain sectors. Certain occupations that include monotonous activities are the most affected. Thus, the rise and widespread of AI technologies open new opportunities for job seekers, mainly connected with technologies and data processing, nevertheless, it also demands new occupations and retraining of the workers.

Ethical Problems

AI applications are not exempted from ethical issues. That is why the principles of ethical development and application of artificial intelligence are urgent to eliminate these problems.

Privacy and Security

A significant number of applications and services based on analytics involve the use of large amounts of personal information; thus, they create critical privacy and security issues. Hacking or otherwise improper use or disclosure of the provided information can pose a drastic violation of privacy. Proper implementation of data protection measures is crucial to protect the information.

How to Mitigate the Disadvantages of AI

To balance the above-mentioned disadvantages of AI, more focus has to be placed on the concept of lifelong learning and retraining of employees for new types of jobs. Thus, better ethical standards and requiring clear disclosure in AI work can solve the problem of ethical issues and biases.

Maintaining and upgrading software and hardware systems can help to control the decline of the system over time, while proper protection mechanisms also help to secure people’s data. Thus engaging AI developers, ethicists, and policymakers can facilitate the realignment of the related fields as well as ensure the creation of fair and balanced AI systems that do not pose a threat to any stratum of society but rather work in its best interest.

How to make AI work in our Advantage

There are various ways by which we can make AI work to our advantage. They are:

Implement AI Ethically

• Maintain transparency and fairness in AI systems to prevent ethical issues.
• Monitor AI models to detect and remove biases and ensure ethical compliance.

Enhance Workforce Skills to prevent job losses

• Implement continuous learning programs so that the employees don’t get affected by AI automation.
• Should balance the AI implementation so that it does not affect job creation.

Focus on Data Quality

• Collect and maintain high-quality, diverse datasets to maintain accuracy.
• Use robust data governance practices to ensure data security and privacy.

 What are the types of Artificial Intelligence with Examples?

Examples of AI

There are several Examples of AI in real-life scenarios in today’s world.

Self Driving Cars

There are various AI mechanisms like the Valeo automotive Lidar sensor which helps to drive a car without the need of a driver. These cars can drive by themselves with the help of a sensor which helps them to navigate on the roads.

Recommendation System

AI analyzes the data and pattern of the things you see and buy and based on that they give you recommendations. Like a playlist on Spotify or music videos on YouTube. They can even suggest items based on the things you check, like on Amazon.

Virtual Assistants

VAs like Alexa, Google Assistant, Bixby, and Siri help you to schedule and control electronic appliances just by using voice commands only.

Scope of AI

The below table guides us as to how some of the AI systems-based technologies are making us future-ready and have made our lives easy today:

Conclusion

Many benefits can be obtained from the use of AI. However, it also has disadvantages, like the high costs of developing those applications, some ethical issues, and the consequences of job vacancies. By properly planning and avoiding ethical issues in implementing this technology, we can take full advantage of AI. All this will remain true because, as AI progresses to maturity, it is capable of positively impacting the world in various ways if the right approaches are adopted.

AI vs. Robotics: which is the better career option?