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The Dual Nature of AI: Advantages & Disadvantages of Artificial Intelligence

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Jagpreet

11 July, 2024

The Dual Nature of AI: Advantages & Disadvantages of Artificial Intelligence

“Artificial intelligence, deep learning, machine learning — whatever you’re doing, if you don’t understand it, learn it. Because otherwise, you’re going to be a dinosaur within three years.” – Mark Cuban (American entrepreneur and investor, 2020)

Did you know that research conducted by the World Economic Forum has highlighted that students who get personal tutoring improve profoundly? According to the study, the students who got personalised tutoring consistently performed better than 98% of their peers in regular classrooms.

If you desire a splendid academic journey, personalised learning can be a catalyst. But there is a catch, personalised learning may be expensive, and not every student can afford it. But we are living in an age where everything is possible. Today, you can use AI (Artificial Intelligence) tools to make it possible. Nowadays, AI tools can become your tutor and can help you with their advanced personalised teaching ability.

For instance, I am a student preparing for my upcoming IIT entrance exam. My room is swamped with books and study materials. I am an average student, and physics formulas blur my mind and confuse me. In addition, when I solve some sample questions my head starts spinning.

One day, my friend suggested me to take help from an Artificial Intelligence Tool called AI Tutor. This tool can act like a tutor and can assist me with personalised learning based on my strengths and weaknesses.

Intrigued, I downloaded it within minutes, and the next moment I was having a one-on-one session, tackling concepts that had stumped me earlier. This is the power of Artificial Intelligence (AI) in action.

Today, AI has become an integral part of our world. The moment we wake up in the morning, we can feel the power of AI. Whether starting our day with a smart AI alarm that automatically adjusts to our sleep pattern or navigating traffic with GPS that tells us where the free roads are and where there are traffic jams to save our time, AI is constantly at work.But as a coin has two sides, AI also has its advantages and disadvantages. In this blog, we will explore the advantages and disadvantages of Artificial Intelligence.

The Advantages of AI (Artificial Intelligence)

Enhance Your Efficiency and Productivity

You can use AI to automate the tasks that you have to do repetitively. Remember the above-mentioned example of myself? AI tutors can generate personalised question sets for you. AI can identify areas, where you need to improve more and provide you instant feedback – all at a pace that surpasses human limitations.

This will save you valuable time, which you can use to watch your favourite Netflix show. Mine is GOT; what is yours? Moreover, you can utilise this time for something productive. It all depends on you.

Data Analysis Powerhouse

Can you imagine how much data is being produced every day in the world? It is more than 402.74 million terabytesevery day. AI algorithms can help you analyse large amounts of data and find hidden patterns and trends that humans cannot see. AI can smartly use all the data to do research, find the values, and predict the calculated decision based on the data.

These AI capabilities can change fields like Finance, where AI helps predict market changes and make smart investment decisions (note- take financial advisor help before making any financial decision). You can count on the power of AI capabilities but always make sure that the end decision is yours based on your calculations.

Revolutionising Healthcare

As reported by Statista, the AI in healthcare market globally was valued at approximately 11 billion USD in 2021. It is expected to reach around 188 billion USD by 2030. AI is making significant strides in healthcare. It is commonly evident nowadays that AI can help in the healthcare sector, whether it is about analysing medical scans for early disease detection or developing personalised treatment plans. AI is helping the doctors in providing better care for patients.

Let’s check out a real-life example of how AI is really helping humankind in the healthcare sector.

In a recent study by NATIONAL CANCER INSTITUTE, researchers explored using an AI machine-learning technique called transfer learning to improve cancer treatment. They trained an AI model to predict how cancer drugs would work using bulk RNA data available worldwide. Then, they fine-tuned the model with single-cell RNA data for more precision.

They used this technique to obtain results from large-scale drug screens, the researchers created AI models for
44 FDA-approved cancer drugs. These AI models successfully predicted how individual cancer cells would respond to single drugs and combinations of drugs. This breakthrough shows how AI can be effectively used in cancer treatment to personalise and improve patient care.

Enhanced User Experience: Siri, Alexa and Google Assistance

This is one of the best advantages of Artificial Intelligence that I personally like. AI is making technology more user-friendly. Now we have smart virtual assistants like Siri, Alexa, Meta AI,  and Google Assistance. They can understand your voice commands, streamlining tasks like setting reminders or playing music.

You can talk to them when you are alone. You can ask them to crack a joke. They can even sing for you. You have a personalised companion that will not leave you alone.

Similarly, AI-powered chatbots on e-commerce websites answer customer queries instantly which ensures that you are getting a smooth and personalised shopping experience.

The Disadvantages of AI (Artificial Intelligence)

Job Displacement

One of the biggest concerns in all of our minds is “Can AI replace humans?”.  We have written a detailed blog on AI vs Human Intelligence, you can refer to this blog to get  in depth knowledge. As AI systems become more experienced, they can automate tasks that you do repeatedly. AI capabilities make people worry about the i job security in particular sectors such as Manufacturing, Data Entry, and Customer Service.

This raises concerns about people losing their jobs. Now they are concerned about job security and hence there is a need for upskilling.

Bias and Discrimination

We all know that AI algorithms are trained on large amounts of data. They are only as good as the data they are trained on. But have you ever thought that if that data contains biases, the AI system can preserve those biases in its decision-making?

For example, suppose an AI-powered recruitment tool that is trained on biased data, inadvertently favouring certain candidates over others. This would not be fair to the candidates who are left behind and do not get the fair competition or opportunity they deserve.

This is a critical issue that needs to be addressed to ensure fairness and ethical use of AI.

Privacy Concerns

AI is usually trained to a large amount of personal data. As it becomes more integrated into our lives, it raises concerns about data privacy.

Harsha Solanki, MD, Infobip (India, Bangladesh, Nepal, and Sri Lanka) says, As AI keeps on evolving, it increases the use of personal information, leading to more data breaches. Generative AI can be misused to create fake profiles or manipulate images, relying heavily on data. Cybercrimes impact 80% of businesses worldwide, and personal data in the wrong hands can have serious consequences. We must actively protect our customers’ privacy with secure data platforms. –SourceWe should all ensure robust data security measures and clear regulations around data collection and use to protect individual privacy.

The Ethical Dilemma of AI Development

Now, we are on the verge of creating an Artificial superintelligence known as AGI (Artificial General Intelligence). However, in some cases, this raises ethical questions about the future of this technology.

Elon Musk, Mark Zuckerberg, and Sam Altman have different views on AGI. As AI is becoming more complex daily, there are growing concerns about the potential for autonomous weapons or AI surpassing human control.

What can we do to overcome this?

We can create an environment where open discussions and international collaboration are welcomed to ensure the responsible and ethical development of AI.

Generative AI for Professionals

What is Generative AI? Have you ever heard about it? Don’t worry, I will make it simple for you. You might think Artificial General Intelligence (AGI) is just science fiction. Think again! Generative AI is already being used by professionals across many fields. Whether you want to create marketing copy or design new materials, you can do it in just a few clicks without needing specialised skills. Unlike AGI, which focuses on human-level intelligence, Generative AI excels at specific tasks.

One example is LLAMA, a powerful language model that can write various creative text formats. Generative AI for professionals is here to stay, so do not worry about job replacement. Instead, take advantage of it to stay ahead of your competition.

The Final Words

Now we have seen the advantages and disadvantages of Artificial Intelligence (AI). If we want to make the world better, we can use AI as a powerful tool to help us in healthcare, research, find new solutions, and improve our skills. However, it is important to acknowledge both AI’s advantages and disadvantages.

As mentioned above, just as we have made AI our personal tutor to help us in our studies, AI can assist us and societies in countless ways. The key lies in using this technology wisely, considering its advantages and disadvantages, to ensure it serves humanity rather than the other way around. So we can say that AI is the next big thing if people follow ethical AI practises.


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