Key Benefits and Risks of Artificial Intelligence (AI)

artificial intelligence software company


significant benefits and critical risks


Benefits of artificial intelligence

There are enormous applications of artificial intelligence that revolutionize any sector. Here are some of the benefits:


Reduction in human errors

Increasing precision and accuracy while reducing errors is one of the primary advantages of AI technology. The artificial intelligence decisions are usually from a set of algorithms and previously gathered information. When programmed correctly, AI systems don't make any mistakes, thus reducing errors and reaching high accuracy levels.


24/7 availability

Generally, humans usually work for about 8 hours a day with breaks in between. Your body is built in a way that it requires refreshing time as you get ready for new day tasks because work life and personal life need an exceptional balance. However, when you deploy AI machines, work is done all day long, even without a single break, and unlike humans, machines don't usually get bored in the process


Zero risks

When you let AI robots perform particular tasks, you avoid some potential risks associated with the work. Metal robots are naturally resistant and survive harsh environments, whether underwater, space, or terror-prone areas. Additionally, they don’t wear out easily and provide more accurate work with greater responsibility.


Helps in repetitive jobs

We usually have so many repetitive tasks in our daily lives, including document verifications and sending out emails. AI systems are typically used to productively automate these repetitive tasks and eliminate the boredom associated with all the work.


Digital assistance

Chatbots


New inventions and innovations

Artificial Intelligence is now the primary technology behind many solutions in various sectors. These innovative solutions are useful to human life since they solve complex problems. An ideal example is how the invention of advanced AI-based systems is helping doctors to detect breast cancer in its early stages.


Faster and unbiased decisions

A combination of Artificial intelligence and other technologies results in better and quicker decision-making than humans can do. A human will have to consider multiple factors before making a decision, while an AI machine will work as it’s programmed to do and deliver the outcome faster. AI systems are devoid of emotions and biased views, ensuring accurate decision-making.


Risks of artificial intelligence


High costs of creation

It’s very expensive to build AI systems that simulate human intelligence. The vast amount of resources and time usually involve high costs as they are complex machines. Also, maintenance and repair of the AI machines tend to be a bit costly due to the need to stay updated.


Creates unemployment

The ability of AI systems to perform repetitive tasks efficiently makes them be significantly deployed in many industries. This, in turn, surely reduces the need for human labor in these sectors leading to the death of the available job opportunities. The chatbot, for example, is an AI solution beneficial to every organization but a threat to job positions of the support team.


No creativity

AI systems don't think, and they will bring no new approaches. They just work according to the programs but are not creative primarily. This makes their outcome lack the advanced human touch that may be influenced by a new thoughtful approach. Robots will not do anything else other than what it’s designed for.


Creates laziness in humans

Through AI automation, repetitive and tedious tasks are effectively completed since you don't have to overthink to get the work done. Thus, you tend to get addicted to artificial intelligence; think less, and rely on AI to tackle everything.


Conclusion

Every emerging technology has its own key benefits and risks, and you should always focus on the positive side to create a better world. AI has been a topic for a long time on how it can adversely affect human life, but so far, none of the current Artificial Intelligence applications has destroyed humanity. The only critical thing humans should ensure is that it doesn’t get out of hand in the process!

Øyvind Forsbak is the Chief Technology Officer (CTO) and Co-founder of Orient Software – The leading software outsourcing company in Vietnam. Øyvind is responsible for overseeing the development and dissemination of technology for the software outsourcing projects to ensure that all the services are top-notch and fulfill clients’ requirements. He has been working in the software industry for over 25 years. He has broad experience in the software fields such as software development, software architecture, and artificial intelligence. His experience includes both multinational and Vietnam-based projects with over 100 international clients such as Kaercher, Dekra, Zoi, Nethwealth, Wotif, VTNZ, Ministry of Education (Singapore), VinGroup, and Conexus. Øyvind holds a master's degree in Computer Science from the University of Oslo. https://www.orientsoftware.com/
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