The world is waking up to a hi-tech rhythm. Technological advancements have had a magnanimous impact on our lives. Almost everything around us is governed by artificial intelligence
From Apple’s SIRI, online customer support, security surveillance to self-driven cars, artificial intelligence is permeating every sphere of our life rapidly. However, it has its own share of pros and cons.
One of the major benefits offered by Artificial Intelligence is that it can replicate human actions, without human shortcomings like emotions, exhaustion and limitation of time. It has introduced us to new and more advanced technological breakthroughs.
As Max Tegmark, the President of the Future of Life Institute puts it, “Everything we love about civilization is a product of intelligence, so amplifying our human intelligence with artificial intelligence has the potential of helping civilization flourish like never before – as long as we manage to keep the technology beneficial.”
Machines based on AI are able to function consistently without getting tired. This is one of the major reasons as to why a number of companies incorporate AI into production and service-based processes.
AI increases our competency to deal with difficult, complex even dangerous tasks. It has also proved to be a great teaching aid, especially for students with disabilities and the elderly.
Factoring in the innumerable possibilities, various startups across the world based on artificial intelligence or its derived applications have received funding from global investors. Some of the leading examples include Momenta – William Li’s NIO Capital, Niramai – Koichi Hori’s Dream Incubator, XRVision – Venture capitalist Rajat Khare’s Boundary Holding, UiPath – Philippe Laffont’s Coatue, etc.
This sets the premise for other similar ventures, old or new, to dwell deeper into the applications of artificial intelligence and come up with unique ideas that can benefit the society.
Though AI is radically transforming our world, but it is not always for the better. It is feared that AI will surpass human intelligence, resulting in an unimaginable revolution in human affairs. It is also said to control us, instead of us controlling it.
A major shortcoming of Artificial Intelligence comes with the high chances of breakdown of machines, resulting in the loss of important information. Maintenance and repair of the machines for increasing their efficiency can also incur huge costs. Moreover, autonomous weapons based on artificial intelligence systems can cause severe destruction if misused. It can also displace a number of low-skilled jobs.
Certainly, artificial intelligence has both potential advantages and threats as well. It mainly depends on how and for what purpose you put it to into use.
Also Read: Venture Capitalist Rajat Khare’s Boundary Holding invested Singapore-based startup
