Artificial intelligence (AI) has become an indispensable part of our lives. People are relying on it more and more, especially as its technology has become more accessible to all of us.
Businesses are also actively taking steps to automate different parts of their operations. But how do you know if AI is going to work for you? In this article, we’ll help you make a decision by exploring the pros and cons of AI.
Pros of AI
Artificial intelligence is designed to make people’s lives easier, and this purpose lays the foundation for all the benefits it offers. Here are some pros of AI:
Reduces Human Error
AI is programmed to accomplish specific tasks, which makes for increased efficiency and accuracy. When compared to humans, it’s much less likely to make a mistake that can translate to losses. That said, this performance is still designed by humans, so it can only be as good as how it’s programmed.
Offers 24/7 Availability
People only work for seven to eight hours a day on average, but AI can operate for twenty-four hours a day, seven days a week. This is great especially for businesses that need customer service lines open all the time.
Automates Repetition
Humans deal with a lot of repetitive tasks, which hampers productivity and wastes human talent. AI can help automate repetition to ensure quality work without any slowdown.
Works with Large Datasets
Working with large datasets can take a large amount of time, but AI can deal with them at a fraction of what it would take an office worker. It can do more things than just extract data, too–today’s technology can even analyze information for insights.
Facilitates Decision Making
Humans may have to consider multiple factors that can affect decision-making. AI operates based on logic, which helps it come to faster and better choices.
Cons of AI
Though AI is a beneficial tool, it does come with some cons. Here are some to consider:
Reduces Employment
AI can do tasks that would otherwise be assigned to a person. This takes away certain jobs, reducing employment.
Lacks Creativity and Empathy
Because AI works based on logic, it lacks some valuable human traits that would be able to improve outputs. It doesn’t have creativity for out-of-the-box results, nor does it have empathy to make decisions based on morals and ethics.
Incurs High Costs
Implementing AI can get expensive, especially in business settings. You have to pay for setup, then shell out resources for ongoing maintenance down the line.
Should I Use AI?
AI is a powerful tool that offers many benefits, both at the individual and enterprise levels. Whether you choose to use it or not will depend on the return on investment you predict it will have for the purpose you’re going to use it for. That said, it’s important to weigh its pros and cons and understand what it takes to run and maintain AI systems and features for your business.
Also Read: The Evolution and Benefits of Artificial Intelligence
