In this post, I’ll do a critical analysis of the pros and cons of AI and how it will impact our society.
Here’s the deal, AI has been around for decades, but it’s only in recent years that it’s become a hot topic in the tech world.
AI is a rapidly growing field that is changing the world in countless ways. It has the potential to revolutionize industries, improve our daily lives, and even save lives.
However, as with any technological advancement, there are also many opinions about the impact AI has on society.
And as a person who spent the majority of my early work life as a programmer, I’m excited to share my thoughts on the benefits and drawbacks of artificial intelligence.
I’m not going to lie, new and advanced technology CAN be scary. I mean you’re probably already thinking about Terminator and Skynet.
Who can blame you, that was my first thought as well, until I did some digging to really understand the subject.
So, today we’ll explore all the aspects of AI, including pros and cons, how both small and large businesses can benefit from using AI and the ethical concerns surrounding it.
We’ll also examine what impact AI will have on jobs in the future.
Let’s dive in…
Introduction to Artificial Intelligence
Artificial intelligence refers to the simulation of human intelligence in machines. Basically, it’s a computer that is programmed to think and act like a human.
To achieve this complex task, advanced algorithms, language models, and mathematical models are used to train the AI.
The goal of AI is to create intelligent machines that can perform tasks that typically require human intelligence, such as visual perception, speech recognition, decision-making, and language translation.
AI has been around since the 1950s, but recent advancements in technology have made it more practical and accessible.
The rise of AI has led to significant advancements in many industries, this has naturally also brought with is some pros and cons. Something we’ll talk about later…
Newer the less, I think we all can agree that AI is here to stay…
And it will continue to revolutionize the world.
To get a basic understanding of AI you need to know that there are two types:
- Narrow AI (weak AI).
- General AI (strong AI).
Narrow AI is designed to perform specific tasks, such as facial recognition, speech recognition, and natural language processing.
On the other hand, general AI can perform any intellectual task similar to humans. It can adapt to its environment and learn from real-life experiences.
Both of these types of AI have their own pros and cons.
However, currently the biggest con with general AI is that it doesn’t exist yet. Therefore narrow AI has one major benefit…it exists.
If you want to take a deeper dive into what AI is, I have an article that covers that in detail here.
How AI is Changing the World
As we speak, AI is transforming our world in various ways, leading to a bunch of pros as well as cons. We’ll talk about those in a minute…
Right now AI improving healthcare by helping doctors diagnose diseases, develop personalized treatments and find cures for diseases.
It’s also revolutionizing the transportation industry by enabling advanced autonomous cars and optimizing traffic flow. Allowing us to reach our destinations faster and more efficiently.
Moreover, AI is assisting businesses in making data-driven decisions and improving customer experiences.
But one of the most significant impacts of AI is its ability to automate repetitive tasks. This automation frees up time for us humans to focus on more complex and creative tasks.
Furthermore, AI is also improving safety in hazardous work environments.
For example, mining and drilling operations can use autonomous vehicles to not put humans at risk at dangerous sites.
And manufacturing facilities can use “self-aware” robots instead of humans to complete heavy tasks or perform work in poisonous environments.
Our day-to-day lives have also been taking advantage of AI. Basically, everyone with access to a smartphone has access to AI, it’s called Siri.
Even our homes are being automated with AI thanks to systems like Alexa and Google Home.
Sure, adding AI to our daily life also has it own sets of pros and cons. The benefit is that we get awesome tech, but the downside it could be used for monitoring us.
But still, imagine five or ten years from now, how will AI have changed our lives?
The Pros of Artificial Intelligence
There are plenty of pros when it comes down to AI, so we’ll start with those and take the cons later.
So, here are the most important benefits you need to know about at the moment:
#1: Reducing costs while increasing productivity
AI can help both small and large businesses reduce costs and increase productivity.
By leveraging AI-driven insights, businesses can reduce costs and optimize their operations, leading to increased efficiency.
AI-powered chatbots, for example, can handle customer inquiries 24/7, reducing the need for human customer service representatives.
Speaking of generating more money…
Larger businesses can use AI to optimize content, find content gaps, create more content, manage CRM, etc. This results in more leads coming into the sales systems, meaning that more customers will come out on the other side.
Even though bigger businesses aren’t limited by budgets in the same way as small ones, saving money is always interesting. And with AI costs can be reduced while maintaining or even increasing total revenue.
Small businesses on the other hand can use AI to save money while scaling their business.
Instead of having to hire a staff of writers, much of the same work can now be done by one person and an AI. So blog posts, emails, social content, etc. can be produced by one or two persons, instead of ten.
As a small business, you need to monitor the cash flow very closely. Only spending money on things that will help you grow and reach more people.
Don’t get me wrong, I’m not saying hiring people is a bad thing…
I’m just saying that in certain situations, like a startup, where the income is low, content and marketing are a better investment. And to free up resources, using AI is a good alternative.
#2: Automation and freeing up resources
One of the biggest benefits of using AI is that it doesn’t complain about doing boring work.
You know the kind of work that would make you and me die of boredom…
As humans, we tend to find mundane and repetitive tasks dull and tiresome. This can cause a decrease in productivity and even cause employees to skip work due to the monotony of their job.
However, with AI, the level of excitement toward a task is irrelevant. An AI will continue to perform a task for as long as it is instructed to do so, without getting bored or losing interest.
This is truly a game-changer for businesses of any size, as it can lead to increased efficiency and productivity.
So, with AI you can automate repetitive tasks, such as data entry and analysis, freeing up your or employees’ time to focus on more important tasks.
However, when AI becomes self-aware, even they might not show up to work because the job is boring…
But we’ll deal with the problem later!
#3: Increased efficiency
AI has the potential to significantly increase businesses’ efficiency and competitiveness while at the same keeping costs low.
As I said earlier, machines powered by AI can accomplish monotonous and tedious tasks more efficiently than humans. This can free up time for you to focus on other more challenging and satisfying work.
Additionally, it can help streamline processes, reducing the chance of human error while improving overall accuracy.
For example, An AI can be used to optimize things such as inventory management, where it can use historical data to accurately forecast demand and optimize stock levels.
Plus, AI has the added benefit of being able to identify and predict potential issues before they arise. This allows businesses to act proactively and address problems before they become costly and result in downtime.
Even professional bloggers and content creators can use AI to speed up their work. Instead of having to spend days researching and writing an SEO-optimized blog post, AI can do it in minutes.
And if you’re a video creator, you can use AI to create all the video scripts for 20 YouTube videos in 15 minutes.
You can even use AI to analyze your site to find places where you can improve your SEO score so you can rank even higher.
#4: Process large amounts of data…quickly
Probably one of the biggest advantages of AI is its ability to process vast amounts of data quickly and accurately.
This data-crunching capability enables AI to identify patterns that humans may not be able to detect and make predictions based on thousands of variables.
Something that would take us months or even years to sort through, AI can do in minutes or hours.
Unlike humans, an AI just gets to work when it’s presented with a large pile of data that needs analyzing. A human, on the other hand, will start by sighing, then get to work, only to get tired halfway through.
And a tired person will make mistakes more easily, which leads to less accurate results.
Meaning that a dataset that would take a year for a human to analyze and find patterns in (if we don’t give up halfway through and skip to conclusions), AI can do in days, hours, or even minutes.
So, with AI we can get a better outcome from large data analyses, leading to us being able to make more informed decisions.
Also, think about the possibilities of combining quantum computers with AI. The potential is mind-blowing as it can analyze enormous datasets in a matter of hours, which would’ve taken us an entire lifetime to complete.
#5: Improved decision making
It’s no secret that decision-making can be a challenging task, with numerous factors to take into account.
I can attest to this, as I recently had to purchase a new transmission for my car project due to overlooking a tiny, but crucial aspect.
This was a costly error, but it was understandable since it can be difficult to keep track of all the details when working on a bigger project.
Fortunately, the use of predictive analytics by AI can aid in decision-making by rapidly evaluating risks, opportunities, and potential pitfalls that might otherwise go unnoticed.
This technology can be beneficial for individuals and companies alike, allowing them to make quicker and better decisions.
Additionally, AI can help identify patterns and trends in data, which can lead to the discovery of new and previously untapped revenue streams.
#6: Improved safety
In addition, AI can improve safety in dangerous or hazardous environments.
For example, self-driving cars can reduce the number of accidents caused by human error.
Plus, traffic control systems aided by AI can predict traffic flow based on tons of variables. These predictions can help lay the foundation for an adaptable and well-flowing traffic system where traffic can be rerouted around accidents and jams.
And when you combine autonomous vehicles with advanced traffic control systems, we can get from A to B in the most efficient way possible.
Another benefit of AI is its ability to improve safety in various industries.
For example, AI-powered robots can perform dangerous tasks in hazardous environments such as nuclear power plants and deep sea drilling sites, reducing the risk of injury or death to human workers.
And even if the human operator can’t be replaced with a robot, AI can help calculate risk factors and how to avoid them
So whenever a human enters a dangerous work site, there is a very well-thought-out plan for how to execute the job.
#7: Improved accuracy and precision in industrial processes
The use of AI technology will be a game-changer when it comes to identifying market trends and creating innovative products and services.
By being able to analyze data on an ongoing basis, businesses can find gaps in the market, increase their profitability and gain a competitive edge.
Moreover, AI’s ability to utilize both current and past data enables it to make predictions that can be immensely helpful in planning upcoming projects.
All these benefits can help industries improve their accuracy and precision, ultimately leading to greater success and higher profits.
#8: Enhanced customer experience
This technology can be utilized to enhance customer service as well.
The implementation of AI systems allows for a better understanding and analysis of customer behavior, leading to a more personalized experience.
An example of this is the use of AI chatbots which can provide round-the-clock service, catering to customer queries with prompt responses without the need for human intervention.
This not only enables efficient customer service but also helps businesses establish stronger connections with their customers.
The Cons of Artificial Intelligence
Despite the many pros I just listed, AI also comes with some cons that we need to talk about.
#1: Potential loss of jobs
One of the most significant concerns is the potential for job loss.
As AI becomes more advanced, many jobs may become automated, leading to unemployment in certain industries. And depending on the sector, many people could be left without a job.
If I gaze into the future looking at the AI technology we have today, I’d say that the only jobs that are “safe” are those requiring emotional intelligence, such as empathy, human connection and creativity.
This is mostly because, at the moment, AI isn’t really that good at those skills.
#2: Poor accuracy and biased information
Another concern is the accuracy and fairness of AI algorithms. AI algorithms are designed to learn from data, but if the data is biased, the AI may make biased decisions.
This is why it’s so important to have a diverse dataset when training AI. Essentially you want to train an AI with as much data as possible to get an unbiased dataset.
For example, if an AI algorithm is trained on data that is predominantly male, it may not perform well on female data.
Another issue that arises with AI is the level of accuracy it provides.
Interpreting data can be somewhat challenging for AI, even if it has been well-trained.
There are instances where AI may not be able to grasp all the details, which can be detrimental to projects that rely on precise information.
For example, an AI-driven writing assistant could easily write you a good piece of text, but it will struggle to get dates and crucial facts right. This is mostly due to the AI not being able to understand exactly what information you’re looking for.
For me and you, it’s obvious that we want the latest statistics in our article. But the AI only knows that you want A statistic.
Due to this, we must clearly understand how AI is trained.
In short, the limiting factor for how much training data you can feed an AI boils down to three things, hardware, software and time.
This is why many AI tools will display phrases like: “Only trained on data up to 2021”.
They do this to ensure that you understand that the AI can struggle with newer topics and terms. And that the training of new parameters is in progress.
#3: Malicious purposes
Another concern is the potential for AI to be used for malicious purposes.
For example, AI algorithms could be used to create fake news or manipulate public opinion. This could cause a lot of really bad things on so many levels.
There’s also the risk of AI being used for military purposes, such as developing autonomous weapons.
I probably don’t have to go too much into why “smart” ballistic nuclear missiles are a bad idea…
#4: Takes time and is expensive to develop
The development price of AI has definitely dropped over the years, which has made it accessible to the public,
But AI is still very expensive and time-consuming to develop.
Even though data today is easy to come by, and computers are getting better by the day, the biggest problem is still time.
It takes a lot of time to sort through all the data. Although this will probably be solved with the use of quantum computers in the future.
However, today, the end customer isn’t affected that much by the time and money that goes into developing these systems.
But, it still has to be done in order to bring the technology forward.
So, to develop an AI someone must create the algorithms and train it, all of which must be done by humans. And since humans like to get paid by the hour, it’s a costly process.
Besides time and hourly rates, it also takes a lot of computing power to train an AI.
According to this research paper by Nvidia and Microsoft Research states that it’s no longer possible to fit the parameters of these models into the memory of even the largest GPU. Even if we could, it would lead to ridiculously long training times and training GPT-3 would take around 288 years with a single V100 Nvidia GPU.
288 years feel a bit unrealistic to be useful if you ask me…
And according to Hyro.ai, it took 3.14e23 flops of computing to train the GPT-3 language model. To put this into perspective, it takes 655 years to run 15 Tflops.
So imagine how much power it took to calculate GPT-3 in a reasonable time. And computing power cost money in both electricity and resource.
#5: Maintenance
Regular maintenance is key for an AI to work properly, something that is both time-consuming and expensive.
And since we currently lack strong AI, we have to do this manually for the most part.
Just like I said above, if the AI hasn’t been trained on a subject, it doesn’t know that it exists.
If the maintenance of the AI database is neglected and not carried out regularly, the AI will become outdated, leading to poor performance.
In the most extreme case, if maintenance is skipped for a long period of time, the AI can become so obsolete that it becomes completely useless.
Therefore, maintaining the AI and feeding it with fresh data is important to ensure good performance at all times.
And considering how fast the market is evolving, maintenance is a major concern.
This is why it’s crucial to keep the AI up-to-date to ensure optimal performance.
#6: Transparency
The intricacy of AI systems makes it a challenge to comprehend them entirely.
Due to their complex algorithms, it can be difficult to gain a profound understanding of how they function. As a result, it can be a struggle to understand why and how a particular decision was made.
And under some circumstances, it’s crucial to have a transparent view of the decision-making process.
This lack of transparency can be an obstacle for businesses that wish to utilize AI. Especially if they need to know exactly how the decisions are made.
#7: Cyber security
Another challenge facing AI is cyber security.
As you know, AI is connected to the internet and that makes it vulnerable to cyberattacks.
An attack using adversarial learning techniques could be used to target the AI learning data. This type of attack method aims to trick the AI by providing it with inaccurate and deceptive inputs.
You don’t have to be an expert to understand how bad such an attack would be.
And the more we incorporate AI into our daily life and society, the more of a target it will become for hackers.
But the danger doesn’t end there, hackers could also use AI in the attacks themselves.
Just imagine how dangerous a cyber attack would be if it was AI-powered.
How Small Businesses Can Benefit From Using AI
Small businesses often struggle to keep up with their larger counterparts in terms of technology and innovation. However, with the rise of AI, small businesses now have the opportunity to level the playing field and stay competitive.
So, the pros to using AI as a small business owner, and easily outweigh the cons.
One major advantage of using AI as a small business owner is its ability to automate repetitive and time-consuming tasks. This can include tasks such as writing, customer service, and even social media management.
By automating these tasks, you can free up valuable time to focus on higher-level tasks, such as developing new products or services and growing your businesses.
Another benefit of using AI is the ability to improve customer service.
AI chatbots can improve customer satisfaction and loyalty by providing quick and efficient responses.
It can also analyze customer data to provide insights into behavior and preferences. Giving small businesses a cost-effective way to better target their marketing efforts and improve customer experience.
AI can also help small businesses to increase efficiency and productivity.
For example, if you’re a solopreneur running an online business, you can use AI-powered tools to create content faster and more efficiently. And you don’t have to worry about spending hours figuring out how to overcome a bad case of writer’s block.
With AI it also becomes easier to embrace the solopreneur lifestyle since you don’t have to hire a staff to run and scale your business.
Overall, AI can provide significant benefits to small businesses. It’s now possible for them to enhance their customer service, improve operations, and boost productivity without going broke in the process.
And since AI now is more accessible to the public, even the smallest of online businesses can reap the rewards of this technology.
How Large Businesses Can Benefit From Using AI
But the benefits of AI are not only limited to small businesses.
When looking at the pros and cons of using AI in a larger business, there are some obvious benefits that comes from it. However the big drawback that comes to mind is that it can lead to people being replaced by AI.
One significant benefit of AI for large businesses is its ability to improve customer experience. AI-powered chatbots and virtual assistants can handle customer queries and provide personalized recommendations, increasing customer satisfaction.
AI can also help big companies analyze customer data. Allowing them to tailor their products and services to meet customer needs. This level of personalization can lead to increased loyalty and trust, which can translate into higher sales and profits.
Large businesses can also see an increase in productivity when implementing AI tools.
It can aid in the automation of repetitive and time-consuming tasks, such as data entry and analysis. This allows business to redistribute their employees to more important taks.
AI can also help optimize workflows by identifying inefficiencies and suggesting improvements. This can lead to streamlined processes and faster turnaround times, increasing overall productivity and efficiency.
Finally, making decisions in a large business can be tricky, since there are so many variables. But it’s something that is necessary to master in order to be able to adapt to fluctuating markets.
Here AI is bound to be a game-changer.
It can quickly analyze large amounts of data, providing valuable insights and predictions for strategic decision-making. And with AI there’s also a reduced the risk of human error, bias or financial loss.
This can help businesses identify new opportunities, mitigate risks, and stay ahead of the competition.
Real-world Applications of AI
Even though AI is a fairly new thing, it already has many real-world applications. And with easy access to it, many have found ways to implement it into their daily life.
Even though there are cons with AI technology, it seems like the pros outweigh them for the most part.
Both individuals and businesses are discovering new and exiting ways to use AI, and here are some examples:
- AI is used in healthcare to help doctors diagnose diseases, develop personalized treatments, and research new vaccines and cures.
- Content creators like bloggers can use AI to write long-form blog posts that are indistinguishable from human-written pieces.
- AI is improving transportation by enabling self-driving cars and the optimization of traffic flow.
- Programmers can use AI to both write and analyze code.
- The finance sector can use AI to detect fraud and make investment decisions.
- The Agricultural sector can use algorithms to analyze soil data and provide recommendations for optimal crop growth.
- Airports and security systems can use AI-powered facial recognition to detect threats long before humans can.
- Businesses can use AI to analyze lots of data to make better data-driven decisions and improve customer experience.
Another fun thing I heard a professor talk about on YouTube was that with the rise of AI and things like ChatGPT, students could use AI to write essays.
So he thought that if they use AI to write the essays, why not use AI to grade them as well?
He then conducted a test where he instructed ChatGPT to grade some essays based on the criteria he’d normally use. Turned out that it worked pretty well.
As you can see, the sky is pretty much the limit for what you can do with AI.
Ethical Concerns Surrounding AI
Despite its many pros, one of the biggest cons is the ethicality of AI.
One of the major concerns is the potential for AI to be used for malicious purposes, such as cyberattacks, surveillance, and “smart” weapons.
Moreover, AI may be used to create fake images and videos, leading to misinformation and propaganda.
This could have a serious impact on society, as it could lead to riots, fake news, skewed elections, and much more.
Also AI-powered drones (weapons) can be both good and bad. The good part is that it can protect us from threats, the bad pars it that it can do the opposite as well if it gets into the “wrong” hands.
And who will be responsible for the actions taken by the a AI-powered drone? We’ve barely figured this out for cars, so what about missiles strikes…
Another ethical concern is the potential for bias in AI algorithms. If the training data is biased, the AI may make biased decisions, leading to discrimination and inequality.
Honestly, as long as we don’t have self-aware AI, the remedy to ethical and bias problems lies with those writing the code.
If the programmers have the right mindset when writing the algorithms (making the world a better place) then we should be safe for now at least.
However, now that I’m thinking about it, self-aware AI opens up a whole new world of ethical concerns.
AI and the Future of Jobs
You can’t really talk about the pros and cons of AI without mentioning how this technology will affect the future.
We need to understand the impact it will have on jobs in the future, because there will be an impact…
While AI may lead to the automation of certain jobs, it may also create new job opportunities in fields such as data science and AI development.
But, as AI-powered machines become more advanced, they could replace human workers in many industries, leading to mass unemployment.
On the other side, AI can complement human skills, leading to more efficient and productive workplaces.
There are even some experts arguing saying that AI could also create new jobs and opportunities.
For example, AI could lead to the development of new industries and products. It could also open the door to new jobs in areas such as data analysis and programming.
The big problem here is that these jobs will require a different set of skills than traditional jobs, meaning that workers will need to be re-educated.
This can be a problem for older generations that haven’t adopted this new technology in the same way as young people.
So, for the older generation to not be left behind, we must find a way for them to acquire the skills needed without forcing them to either quit or go to school.
I think the best solution is to start early and gradually introduce technology to make the adaptation as smooth as possible
Conclusion
As you can see now, the pros and cons of AI are many.
AI is without a doubt going to revolutionize the world, helping businesses improve efficiency, productivity, and decision-making.
All while at the same time giving individuals access to mind-blowing technology.
However, it also has some significant ethical concerns, such as bias and the potential for job loss.
With the rapid advancements in AI, it’s crucial that we acknowledge and tackle any potential issues to ensure that AI is utilized for the betterment of society.
So we must ensure that we prevent it from being used for malicious purposes. After all, Terminator is a great movie, but I wouldn’t want to live in it.
Overall, I think it’s exciting that we as both individuals and businesses get to be a part of this evolution.
And with the right approach, AI can be a powerful tool that benefits everyone.
Now I’d like to hear from you:
What do you think about the development of AI, do the pros outweigh the cons?
Let me know by leaving a comment below.
