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Challenges of Artificial Intelligence | STT

In this video I share insights on the biggest challenges faced by AI We discuss: 1) Cost of AI To create a machine that mimics human reasoning and logic needs abundant time and resources. Thus the cost of AI creation and implementation is agonizing. There is significant expenditure involved when it comes to purchasing, maintenance, and repair of Artificial Intelligence hardware and software. Moreover, AI needs to be updated every day to adapt to a perpetually shifting business environment. A thorough ROI plan needs to be in place before executing any AI system. 2) Does AI lack Creativity? Another limitation with machines is that they can only function as per their program. Even though AI learns as it goes, it still cannot offer out of the box solutions. A machine’s response is limited to the pre-fed data and in the case of AI, past experiences. 3) Does Artificial Intelligence replace jobs? Once a task is assigned to AI, it requires minimum human interference. It also delivers error-free work. Companies choose AI for the repetitive task which gets done faster over employing people. This has resulted in several lost job opportunities that were once present. Organizations have stopped hiring people for basic data entry work or talking to customers on the website; chat supports are only handled by bots. There is no doubt the bots work round the clock and do an efficient job. Do you think this is bad for the workforce? or do you think this will create more opportunities to balance out the loss for jobs? 4) Does artificial Intelligence have emotion? Can Artificial Intelligence be Conscious? Can Artificial Intelligence Think? Can Artificial Intelligence become self aware? Lack of emotions works as an advantage as well as a disadvantage for AI. While initial customer support is what the bots are good at, there is no way that the whole customer experience can be left on its shoulder. AI is great at initial support however for any on-going issue or exceptional situation, human intervention is a necessity. A bot can never understand any human emotions or develop a bond with a human. 5) Does Artificial Intelligence lack ethics? Can Artificial Intelligence be dangerous? Will Artificial Intelligence destroy the world? Is Artificial Intelligence a threat to humanity? It is absolutely impossible to program AI for all the human characteristics – one of them is ethics. Morality cannot be designed or conveyed through technology. Artificial Intelligence can work efficiently and can successfully complete mundane tasks however it cannot replicate all human traits. That is exclusive to us! Humans also tend to get lazy as more and more AI-enabled applications do their work. Let us not forget how easy it is for machines to destruct if they are programmed for it. Wrong technology in the wrong hands can really have hazardous results for humanity. With all this thought when it comes to Artificial Intelligence, there is still a lot to be learned about the potential risk we face. There needs to be a balance between risk and innovation. Unimaginable scenarios need to be thought of and the right protocols need to be set to manage such situations. Even though Artificial intelligence has massive potential, it is nowhere near to take over our world and rule us. Savants Tech Talk Episode 26 __________________________________________________________________________________________ Fintelics is an emerging technologies custom software/web/app development consulting & solutions company based out of Toronto Ontario. Fintelics specialty is in bridging the gap between industry and technology with ABC, which stands for; AI, Blockchain and Cloud. Fintelics is an AWS Advanced Tier Consulting Partner that is lead by Canada developer 30 Under 30 recipient Will Zhang. The company has also been awarded 'Best FinTech Consultancy - Ontario' and 'Leading Expert in Fullstack Omnichannel Software Development' by Wealth & Finance Magazine. You can learn more about Fintelics by: Visiting our website: https://www.fintelics.com/ Following us on LinkedIn: https://www.linkedin.com/company/fint... Liking our Facebook Page:   / fintelics   #ai #artificialintelligence #challenges