“The year is 2050, and the possibilities are limitless. One can teleport through time and space and change their actual destiny in a fraction of a second.”
Well, that is one of the common scenarios depicted in shows and movies regarding Artificial Intelligence and Machine Learning. While the reality is a tad bit different, the advantages of machine learning and artificial intelligence cannot be overlooked.
Since the concept of artificial intelligence in 1950, it has come a long way in making a seamless and effortless life for human beings. At the same time, it comes from a place of significant requirements and demands.
The following article will explain both sides of the coin and dive into the advantages and disadvantages of artificial intelligence and machine learning.
Benefits of Machine Learning and Artificial Intelligence
The AI market is subjected to grow by 33.2% until 2027. Such a high number is a testament to the ease of life artificial intelligence and machine learning have led to.
1. Improves accuracy
Artificial intelligence and machine learning undertake a large amount of data and work independently without human oversight. Since it takes measures according to a set algorithm, it significantly reduces the chances of human errors.
Along with that, it also finishes the task at a much greater speed while maintaining accuracy. This ticks off the tasks at a faster rate.
2. Increased Availability
According to research, a human requires a break every 90 minutes to achieve consistency and efficiency. Such a buffer period is not needed for artificial intelligence and machine learning. This comes off as one of the best benefits of machine learning as technology can be relied upon for a fully functional working 24/7. This can come in handy while forming chatbots.
We aren’t here to doubt the consistency of humans, but it can be challenging to fulfill tasks, especially monotonous ones. But these tasks can be fulfilled easily with the help of artificial intelligence and machine learning.
4. Faster Decision
A machine or application with artificial intelligence and machine learning can make faster decisions than human resources. This reduces any waiting time frame that might be a pre-requisite for a human calculating any decisions.
The power of artificial intelligence and machine learning can be leveraged to provide a sense of personalization to your customers. For example, Netflix uses artificial intelligence to calculate the data and prepare an algorithm based on this. This helps the application cater to the customer’s requirements and present the best possible solution.
Such techniques can be used by businesses to create brand loyalty.
Disadvantages of Machine Learning and Artificial Intelligence
On the other hand, the following are some of the drawbacks that might be faced while dealing with artificial intelligence and machine learning:
1. High Investment
One of the most forthcoming downsides of artificial intelligence is the high cost that comes with it. Businesses require a good amount of resources and money to facilitate the use of artificial intelligence and machine learning. This restricts certain startups and small companies from reaping their benefits.
2. Lack of Human Touch
While artificial intelligence makes it easier to complete monotonous and manual tasks, it often lacks the human touch. On the one hand, while it finishes off the task with the help of the data provided, it might not be well-equipped to go above and beyond to finish a task creatively.
3. Might Give Rise to Unemployment
With more and more jobs being done with the help of technology, experts predict the possible rise of unemployment. While that is still in the future, most jobs might be overtaken by applications and machines by artificial intelligence and machine learning.
Artificial Intelligence and Machine Learning- Yay or Nay?
After considering both sides of the story, people might get confused about the benefits of machine learning and artificial intelligence. While artificial intelligence might bring certain drawbacks to the table, it is crucial to comprehend its impact on sustainability.
With the proper usage, artificial intelligence and machine learning can completely revolutionize modern technology and pave the way toward a brighter future for our planet.
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