TECH TUESDAY: AI is here Pt. 2

PART 2 7-5-22

We as humans know we need help and technology is one of many helpful solutions to our day to day and long range challenges. Artificial Intelligence (AI) is filling a vast void in expanding human capability. Where is artificial intelligence today and what can we expect in the immediate future? Artificial intelligence is pushing the boundaries of machine-enabled functionalities. This bleeding-edge technology facilitates machines to act with a degree of autonomy, resulting in effective execution of iterative tasks.

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How will AI transform workplaces and should we worry about the fact that people may be replaced by machines? What about the future when it comes to the workforce? What about the potential for replacing people with machines (which is not a new trend)? This is a bit of a concern for many people. For visionaries, AI is about moving people to higher skilled and higher paying jobs while leaving the more dangerous and monotonous roles for AI.

AI facilitates the creation of a next-generation workplace that thrives on seamless collaboration between enterprise system and individuals. Does this mean people will become useless? Some AI advocates say that human resources are not going to become obsolete, but rather, their efforts are bolstered by emerging tech.

In fact, they say AI provides organizations with the luxury of freeing up resources for higher-level tasks.

The following are the primary advantages of AI:

• AI drives down the time taken to perform a task. It enables multi-tasking and eases the workload for existing resources

• AI enables the execution of complex tasks without significant cost outlays

• AI operates 24x7 without interruption or breaks and has no downtime

• AI augments the capabilities of differently abled individuals

• AI has mass market potential, it can be deployed across industries

• AI facilitates decision-making by making the process faster and smarter

Simply put, AI allows organizations to make better decisions, improving core business processes by increasing both the speed and accuracy of strategic decision-making processes. But with innovation comes risks. What Are the Risks of Artificial Intelligence?

1. Lack of AI Implementation Traceability

2. Introducing Program Bias into Decision Making

3. Data Sourcing and Violation of Personal Privacy

4. Black Box Algorithms and Lack of Transparency

5. Unclear Legal Responsibility

6. Diversity in AI careers or the lack thereof

7. Hacking and digital attacks

In the next segment, we will explore the first of five risks to artificial intelligence; Lack of AI Implementation Traceability. In the meanitme, drop us a line on social media and share your feedback.