Artificial Intelligence is impacting our everyday lives. From robots, self-driving cars to watching another Netflix-recommended movie. It is estimated that the global AI market is set to grow 54% every single year.
AI is a computer algorithm that can learn and think independently. It simulates human intelligence. There are three types of AI: Weak AI, Strong AI, and Super AI. Weak AI focuses on one task. This is the type of AI we have today. Strong AI can learn any intellectual task that a human can. We have not yet reached this stage of AI yet. Super AI is when AI machines become more intelligent than us humans. Super AI is a far-reaching goal that maybe might not even be attainable.
Following are the advantages of Artificial Intelligence:
1- Reduction in Human error
AI can significantly reduce errors and increase accuracy and precision in decision outcomes.
2- Zero Risks
Humans can overcome many risks by allowing AI robots to do risky tasks for us.
3- 24×7 Availability
AI can work endlessly without breaks, think much faster than humans, perform multiple tasks simultaneously with accurate results and handle tedious repetitive tasks.
4- Digital Assistance
Many organizations today use digital assistants to interact with their customers, which minimizes the need for human resources. An example of a digital assistant is a chatbot where customers can engage with it and ask questions about company products as per their requirements.
5- New inventions
AI has aided in developing new inventions such as protein sequencing and cancer treatments.
6- Unbiased decisions
Emotions drive humans. However, AI is devoid of emotions and highly rational, thus not bearing any biased views and producing more accurate decisions.
Following are the disadvantages of Artificial Intelligence:
1- No creativity
AI cannot think out of the box. AI is capable of learning over time with pre-fed data but cannot be creative in its approach.
2- Increase in unemployment
AI will slowly replace several jobs that entail repetitive tasks.
3- Make humans lazy
AI applications automate the majority of tedious and repetitive tasks. Since we then do not need to memorize things and solve puzzles to get the job done, we tend to use our brains less.
4- No ethics
Ethics are human traits and cannot be easily incorporated into AI. There are concerns that in the far future, AI may grow uncontrollably, thus controlling the human species or even wiping it out.
There is massive potential for AI to create a better world for us to live in. Most importantly, we do not allow AI to get out of hand. We have reached a time when AI literacy is a necessary component to progress in our lives and careers.