With all the buzz surrounding artificial intelligence—robots, self-driving cars, etc.—it’s simple to believe that it has no relevance to our day-to-day activities. In actuality, the majority of us come into contact with AI in some capacity almost daily. AI has quickly gotten into our daily lives, from the moment you wake up to check your smartphone to watching another Netflix suggested movie. The global AI market is expected to grow by up to 54 percent annually, according to a Statista study. But what is AI exactly? Will it really benefit humanity in the long run? Well, we’ll talk about some of the many benefits and drawbacks of artificial intelligence in this article.

How can artificial intelligence be defined?

Let’s first establish what artificial intelligence (AI) is before moving on to its benefits and drawbacks. From a high perspective, AI gives a computer programme the capacity to reason and learn independently. It is the artificial simulation of human intelligence in machines that perform tasks for which we would typically turn to humans. Based on their capabilities, weak, strong, and super AI are the three main types of AI.

Weak AI: Concentrates on a single task and is unable to go beyond those bounds (common in our daily lives)

Strong AI: Capable of learning and comprehending any intellectual task that a human can (researchers are striving to reach strong AI)

Super AI: Exceeds human intelligence and is superior to humans at any task (still a concept)

The benefits and drawbacks of artificial intelligence

A programme that has the capacity for learning and thought is said to have artificial intelligence. Anything that involves a programme carrying out a task that we would typically assume a human would carry out qualifies as artificial intelligence. Let’s start with artificial intelligence’s benefits.

Artificial intelligence benefits

1. Reduced Human Error
The ability of artificial intelligence to significantly reduce errors and improve accuracy and precision is one of its biggest benefits. Every decision made by AI is based on data that has already been gathered and a specific set of algorithms. When properly coded, these errors can be eliminated completely.

2. Zero Chances
Another significant benefit of AI is that it allows humans to avoid many risks by delegating those tasks to AI robots. Machines with metal bodies are resistant by nature and can survive hostile environments, making them ideal for defusing bombs, travelling to space, and exploring the deepest reaches of oceans. Additionally, they can deliver accurate work with more responsibility and durability.

3. Available constantly
Numerous studies have shown that people only work productively for three to four hours per day on average. To balance their personal and professional lives, people also need breaks and vacation time. However, AI can operate continuously without rest. They can multitask with accuracy and think much more quickly than humans can. With the aid of AI algorithms, they can even manage difficult repetitive tasks without difficulty.

4. Digital Support
Digital assistants are used by some of the most technologically advanced businesses to interact with customers, negating the need for human staff. Digital assistants are widely used by websites to deliver content that users have requested. We can have a conversation with them about our search. Some chatbots are designed in such a way that it is challenging to distinguish between speaking with a human and a chatbot.

We are all aware that companies have a customer service team that must respond to the queries and worries of the clients. AI can be used by businesses to develop a chatbot or voice bot that can respond to all of their clients’ inquiries.

5. New Discoveries
AI is the driving force behind many developments that will help humans solve the majority of difficult problems in virtually every field.

For instance, recent developments in AI-based technology have made it possible for medical professionals to identify breast cancer in a woman at an earlier stage.

6. Dispassionate judgments
Whether we like it or not, emotions are what steer human beings. AI, on the other hand, is emotionless and approaches problems in a very practical and logical way. Artificial intelligence has the enormous benefit of being impartial, allowing for more precise decision-making.

7. Carry out Repeated Tasks
As part of our daily work, we will perform numerous repetitive tasks, such as proofreading documents for errors and mailing thank-you notes, among other things. Artificial intelligence may be used to effectively automate these mundane tasks and even remove “boring” tasks from people’s jobs so they can concentrate on being more creative.

Example: In banks, obtaining a loan frequently necessitates multiple document checks, which is time-consuming for the bank’s owner. Using AI Cognitive Automation, the owner can speed up the document verification process to the benefit of both the clients and the owner.

8. Utilizations Each Day
Today, the internet and mobile devices are absolutely necessary for our daily activities. We use many different apps, such as Google Maps, Alexa, Siri, Cortana on Windows, OK Google, as well as other tools like taking selfies, making calls, and responding to emails. Using a variety of AI-based methods, we can also predict the weather for the present day and the coming days.

Example: When you were planning a trip about twenty years ago, you must have gotten directions from someone who had already been there. You only need to ask Google where Bangalore is right now. Bangalore’s location and the best route between you and Bangalore will be shown on a Google map.

Artificial intelligence drawbacks

1. High prices
It is an impressive achievement when a machine can mimic human intelligence. It can be very expensive and takes a lot of time and resources. AI is quite expensive because it requires the newest hardware and software to function in order to stay current and meet requirements.

2. No originality
The inability of AI to learn to think creatively outside the box is a significant drawback. With pre-fed data and prior experiences, AI is able to learn over time, but it is not capable of taking a novel approach. The robot Quill, which can write Forbes earnings reports, is a prime example. Only information that has already been given to the bot is contained in these reports. The fact that a bot can write an article on its own is impressive, but it lacks the human touch found in other Forbes articles.

3. Joblessness
A robot is one example of artificial intelligence in use, and it is replacing jobs and raising unemployment (in a few cases). As a result, some assert that there is always a possibility of job loss as a result of chatbots and robots taking the place of people.

For instance, in some more technologically advanced countries like Japan, robots are frequently used to replace human resources in manufacturing businesses. This isn’t always the case, though, since it also gives people more opportunities to work and sometimes even replaces them to boost productivity.

4. Make People Lazy
The majority of laborious and repetitive tasks are automated by AI applications. We tend to use our brains less and less because we do not need to memorise information or solve puzzles to complete tasks. Future generations may experience issues as a result of this AI addiction.

5. No Morals
Morality and ethics are significant human traits that can be challenging to incorporate into an AI. Numerous people are worried that as AI develops quickly, humanity will one day become completely exterminated by it. The AI singularity is this point in time.

6. Indifferent
We have been taught from a young age that neither machines nor computers have feelings. Humans work as a team, and leading a team is crucial to accomplishing objectives. There is no denying that when working effectively, robots are superior to humans, but it is also true that human connections, the cornerstone of teams, cannot be replaced by computers.