The Impact of Artificial Intelligence on Business

by Olivia Scott about a year ago in future

Is Artificial Intelligence a Good Thing for Business?

The Impact of Artificial Intelligence on Business
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When thinking of artificial intelligence, the first thing that probably springs to mind for most people is something out of a science fiction movie. However, it’s now begun to transform the lives of many people around the world in more ways than one. Whether it’s a voice assistant such as Amazon’s Alexa or self-driving cars, it’s clear to see that artificial intelligence is now being used more than ever before.

In more recent years, cybersecurity solutions have perhaps become one of the most important AI functions, with many cybersecurity firms investing in AI systems in order to detect malware and viruses before they pose a security threat to a business or consumer.

But, just how exactly has AI affected businesses as a whole? Is it a good thing or a bad thing? Well, each of those questions and more will be answered in the following article.

What is Artificial Intelligence?

Artificial intelligence, otherwise known as AI, can be described as a form of technology in which smart machines are used. What makes them intelligent is that they are capable of self-learning and thinking in a similar way to humans. Some of the main purposes of AI are problem-solving, understanding language, and reasoning.

Its use in a mainstream sense has been evident for many years now, with AI as we know it coming into being as far back as 1956. Although, it took many decades of hard work in order for it to fully fall into conventional use. Throughout the 21st century, this branch of computer science has become more advanced than ever before, and it will undoubtedly continue to progress as newer technologies are introduced in the coming years.

However, you might just be left wondering to yourself - just what kind of impact has AI had on business? Continue reading, as the next section will cover exactly that.

Benefits of Artificial Intelligence on Business

Many technological advances have been made possible thanks to the ever-increasing amount of AI research being conducted. In turn, this has led to the creation of a whole host of tools that have made running a business far easier than was previously the case.

As the years have gone by, AI has increasingly played a part in the day to day running of businesses around the world. In the process, AI has established itself as the perfect accompaniment to human ingenuity and intelligence—creating many tools that have benefitted businesses massively. Targeted advertising, face, voice and speech recognition, as well as intelligent virtual chatbots and agents, are some of the most common AI uses for businesses in modern society.

Each of these technological advances has undoubtedly become effective solutions to the challenges faced by businesses across the globe. For that reason, it would be hard to deny that AI has the potential to be incredibly useful in the business world. With instances of cybercrime constantly on the rise, this will be the case even more so in the years to come.

Artificial Intelligence: The Dark Side

Organisations are doing everything in their power to prevent cybercrime from affecting their business. If they fail to do so, disastrous consequences may have to be faced in the event online criminals get their hands on any private data. This is where AI can play a crucial role, as it can adopt smart processes in order to fend off any cyber attacks before they happen.

However, there is negativity surrounding the relationship between AI and cybersecurity in that hackers can use it to their advantage in their quest to obtain personal information. Thanks to AI, it’s now arguably easier than ever for them to use malware, ransomware, and other threats to exploit security systems which businesses have put in place. For that reason, it’s clear to see that there needs to be a fine balance between functionality and security when businesses implement AI into their cybersecurity practices.

Another cause for concern is the fact that many jobs which previously relied solely on human input are being replaced by or used in conjunction with artificial intelligence. Self-checkouts in supermarkets and robots in manufacturing are just an example of this. Of course, this may cut costs for a business in the long-run and be a more efficient means of delivering goods and services. But rising unemployment is likely to be the consequence of this.

Conclusion – Is Artificial Intelligence a Good Thing for Business?

Overall, there are many reasons why the use of artificial intelligence within business is a good thing. It has undoubtedly improved many everyday tasks by simplifying and automating processes which previously required human input. But, as AI has yet to advance to a stage where it can automatically fend off cybercrime and could potentially have a huge impact on employment, it’s easy to see why some people are sceptical.

Olivia Scott
Olivia Scott
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