Why Artificial Intelligence Isn’t a Sure Thing to Increase Productivity

The computer industry is the engine of large-scale changes in industry and society. As computing is developing, new companies are appearing, new products are being created. Our life is changing. Looking back, it becomes clear that every revolution in computing was due to the emergence of an innovative computational model, a new architecture that expanded the capabilities and accessibility of computing. We can’t underestimate the use of such development as it enhance different spheres of the life.

If you want to learn more about AI from industry experts, then the Intellipaat Artificial Intelligence Course is most certainly for you.

Now, smart machines based on computers with artificial intelligence that can learn, reflect, and interact with people are no longer science fiction. Today, unmanned vehicles with artificial intelligence on board can easily navigate country roads and navigate the terrain. A robot through trial and error can learn complex motor skills. An amazing time has come.

Today, technologies are improving so quickly that in the business sphere companies need to change their approach to development and stick to a more modern approach. The quick development is rather a controversial issue as there are people who tend to work in a calm atmosphere and use one technique for a long time. As we can see the modern world tries to change such people.

What are the benefits of AI?

Improving the efficiency of the company’s performance is becoming an increasingly important condition for success because companies often lack a highly qualified staff who are highly appreciated in the labor market. To improve the efficiency of the company’s performance is possible in various ways. From a technological point of view, artificial intelligence and machine learning (a type of AI) allow conducting advanced training programs that help people to quickly adapt to constant changes in the workplace, which generally leads to increased productivity, which, of course, modern employers can not but rejoice.

AI technologies are already widely used in working with clients, as evidenced by the rapid growth in popularity of applications with a virtual assistant. Many industries also successfully apply artificial intelligence to their daily business processes, for example, such as manufacturing and engineering. Industrial companies see artificial intelligence as a key driver of their profit growth by increasing efficiency, flexibility, and differentiation, etc. Also, AI technology allows simplifying the operation of production lines and the production process using image recognition functions and an interactive interface. Banks, more and more recently, are announcing their introduction in their organizations and on enhancing their use. The same applies to small and medium-sized businesses.

Already today, the growth of labor productivity due to artificial intelligence is estimated at 6.6 trillion dollars, and the growing consumer demand at about 9 trillion. And according to Accenture, a consulting firm, this figure will increase in 4 times to 2035.

However, the insufficient quantity and quality of data and the lack of expertise in this area are among the problems that need to be overcome to ensure wider use of AI, not to mention the complete replacement of a person by artificial intelligence, which many people fear.

Why should we increase our productivity?

According to Jacques Bogin, director of the Global Institute McKinsey, half of all cases that today are in the competence of people in the future can be performed using artificial intelligence, which can lead to an increasing in global productivity by 1 percent or more. And many business leaders generally believe that artificial intelligence can completely replace human intelligence due to the fact that in recent years, companies have begun to introduce AI tools to improve the efficiency of business processes.

The belief that AI can replace the human mind is based on the fact that AI has learned to perform even such creative tasks as compose music, write poetry like themes in shakespeares, draw, photograph and even masterly bluff.

For example, in Goldman Sachs at the beginning of the year, 600 traders were replaced by two employees and automated algorithmic trading programs. However, at the same time, the company management had to hire 200 software developers to maintain the systems. According to this logic, according to the survey, two-thirds of respondents expect new jobs created by AI to compensate or surpass the number of jobs that will disappear as a result of its implementation.

Can a human mind be compared with that of AI?

From this, it can be concluded that today it makes no sense to talk about the complete replacement of the human mind with an artificial one. First, for the development and scaling of AI, in any case, the contribution of a person is still necessary, the system will not be able to carry out maintenance and support independently. And it is natural that a person with a humanitarian education without experience in the field of computer science is quite difficult to do. To do this, it will be necessary either to invest in training for employees or to make a replacement for developers of AI interfaces. And the guys, although much more skilled in this area, but also more highly paid employees than the workforce, which is replaced by autonomous IT systems.

Secondly, the algorithm is often applicable only in solving problems where it is possible to collect a large amount of data. Otherwise, the machine will simply have nothing to learn and its conclusions may be erroneous. Third, do not forget about the sphere of responsibility. No matter how well artificial intelligence works, a person should still make a decision.

Therefore, employers already need to think carefully about what skills their future employees should possess, if, of course, they want to benefit from their investments in the latest technologies.

As you can see, the transition to AI has quite good predictions, but the question arises, does this make sense if it will not be used properly?