Everyone’s talking about AI. From a business standpoint, there seems to be a growing pressure to jump on the bandwagon and implement AI across different areas. But the right answer can vary from one business to the next, so it’s important to weigh up whether AI is a worthwhile investment for your specific circumstances. To help, we’ve summarised the main pros and cons of AI to help you decide.
The Pros Of Artificial Intelligence
Speed and Automation
The main selling point of AI is speed. While it can be debated whether the quality of AI beats human skill, there’s absolutely no competition in terms of how quickly tasks can be completed. Tasks like content generation and data analysis can be completed in minutes, if not seconds by AI tools. By contrast, the same tasks may take a human a whole day to complete.
Eliminates Human Error
Humans make errors, and there’s no way to entirely eliminate the risk of human error. There’s also no guarantee that AI, in its current state, gets everything right. For most basic tasks though, using AI greatly reduces the chances of error compared to humans. On this point, it must be said that this only applies to basic tasks. For more complex things, such as intricate graphic design jobs, there are still many examples of AI making mistakes.
Cost Savings
There’s a lot of noise around AI taking jobs. While this might not be a selling point of AI on the whole, it does provide struggling businesses with a way to cut costs. For example, compare the cost of hiring a receptionist vs using an AI phone answering service. Opting for the latter could instantly remove $30,000 from your outgoings.
The Cons Of Artificial Intelligence
Loss of Human Touch
Some tasks just need a human element. Taking it back to the example above of a human receptionist versus an AI receptionist, while the AI option might be cheaper, there are obvious issues with allowing robots to deal with customers. For industries that require a sense of empathy, this is where humans are usually the better option.
Environmental Concerns
The main concern that comes with implementing AI is sustainability issues. Artificial intelligence requires huge data centres to power the technology. Significant amounts of ultrapure water are then needed to keep servers cool. For small businesses looking to take advantage of new AI tools, you may need to be wary of backlash from eco warriors if you turn too heavily to AI.
Loss of Creativity
Similar to how some jobs require humans’ emotional intelligence, some require creative thinking. As discussed, AI is great at basic tasks, but it’s also limited due to the fact that it relies heavily on information that is already out there. For times when you are looking for originality, such as putting together a new marketing campaign, AI will struggle to offer you solutions that haven’t already been done before. This is another example of when a human brain is required.
