Incorporating artificial intelligence (AI) into various goods and services is on the rise. AI is integrating into our lives in both significant and subtle ways, from tailored suggestions on music and video streaming services to the next generation of linked cameras and driverless vehicles. However, what is AI?
The complexity of AI is undeniable. Thus, in this article, we explore everything you need to know about AI – its advantages, implications and how to better address ethical concerns using according to principles and values that should guide the development and use of AI.
So, what exactly is AI?
Artificial intelligence (AI) is the emulation of human intellect in devices that have been designed to imitate human intelligence. Therefore the term may be used to refer to any technology that demonstrates characteristics of the human intellect, such as learning and problem-solving.
Simply put, it is a broad umbrella term used to represent a variety of techniques that allow machines to simulate the human intellect. A sub-set of AI that is also commonly talked about is machine learning, which refers to the idea that computer programmes can automatically learn new data without human assistance.
Generally, the goals of AI include knowledge representation, reasoning, computer-enhanced learning and more.
Examples of AI applications
Artificial intelligence has a plethora of uses and applications.
For instance, smart assistants such as Siri and Alexa are examples of conversational AI, wherein these devices are programmed to generate human-like responses to questions. Such devices adopt deep learning techniques, which adapt through progressive learning algorithms and become more accurate the more you use them.
Other examples of AI include self-driving cars, robot advisors, automated financial investing, facial detection and recognition, text editors, search and recommendation algorithms and more.
The role of AI in businesses
With its intelligence, AI has the ability to empower businesses and revive whole sectors like the automotive, agricultural, and healthcare industries. For example, intelligent drones have transformed the process of producing and harvesting crops, allowing farmers to almost effortlessly inspect their area. Recent studies have also found that a trained AI can sometimes recognise cancers and other ailments more accurately than a professional doctor. Additionally, in the e-commerce industry, with the help of AI-based product suggestion and payment, shopping process is becoming seamless and convenient.
Benefits of AI
Increases business productivity
AI has the ability to conduct regular, high-volume, automated activities instead of automating manual ones. What’s more, it does so consistently and without fatigue. In many industries, automation not only boosts output and efficiency but also allows for better utilisation of resources, better product quality and shorter lead times. Moreover, automation can free up resources and manpower that can be put to better use, such as allowing employees to focus on key duties.
Ensures business continuity
AI not only increases business productivity, but also gets a company ready for any emergency to ensure business continuity. Given how strongly today’s risk management depends on data analytics, AI-powered systems can assist businesses in making preventive crisis responses. Businesses may use AI and machine learning to build scenarios that will aid in developing a crisis recovery plan.
Smarter decision-making
Before AI, businesses had to rely on inconsistent, incomplete or hard-to-decipher data. However, with AI, the decision-making process is much clearer, more data-driven and faster.
AI provides businesses with a broad spectrum of information and offers organised answers to emerging problems by eradicating human error and swiftly evaluating enormous volumes of diverse data.
Implications of AI
Artificial intelligence (AI) is a rapidly growing technology that has the potential to transform various sectors and change the way we live and work. As the use of AI becomes more widespread, there is a growing concern about the ethical implications of these technologies. While the development of AI has the potential to bring numerous benefits, it also raises a number of ethical concerns.
Biased algorithms
One of the main ethical concerns surrounding AI is the potential for biased algorithms. AI systems are only as unbiased as the data they are trained on, and if the data is biased, the AI system will also be biased. This can lead to unfair and discriminatory outcomes, such as the exclusion of certain groups from job opportunities or the denial of loans or insurance to certain individuals.
AI as autonomous weapon or spreading misinformation
Another ethical concern is the potential for AI to displace human jobs. As AI systems become more advanced, they may be able to perform tasks that were previously done by humans, leading to job loss and economic disruption. There is also a concern about the potential for AI to be used for nefarious purposes, such as creating autonomous weapons or spreading misinformation.
To address these ethical concerns, there is a growing recognition of the need for AI ethics. AI ethics refers to the principles and values that should guide the development and use of AI. There are a number of initiatives and organizations focused on AI ethics, such as the Partnership on AI and the Institute for Ethical AI & Machine Learning. These organizations bring together experts from academia, industry, and civil society to discuss and address the ethical implications of AI.
Importance of Artificial Intelligence (AI) Ethics & Governance
As the AI industry continues to grow, it will be important for businesses, policymakers, and researchers to consider the ethical implications of AI and take steps to ensure that it is developed and used in a responsible and ethical manner. This may include the development of AI ethics frameworks and guidelines, as well as the creation of regulations and oversight mechanisms to ensure that AI is used ethically. By addressing these ethical concerns, we can ensure that AI is used to benefit society and promote the common good. AI Ethics is an emerging field and therefore crucial for any companies and professionals involved in AI Projects and AI Development to demonstrate a working understanding of the AI Ethics Governance Framework.
To address these ethical concerns, there is a growing trend towards the development of AI ethics frameworks and guidelines. These frameworks provide guidance on how to ensure that AI is developed and used in a responsible and ethical manner. As the AI industry continues to grow, it will be important for businesses, policymakers, and researchers to consider the ethical implications of AI and take steps to ensure that it is developed and used in a responsible and ethical manner.
For those who possess basic ICT skills and are looking for IBF-funded courses on AI or are keen to find out more about incorporating 3rd party AI technology into their business, this is the course for you. Our Professional Certificate in Artificial Intelligence Ethics & Governance in Action aims to provide guidance on the strategies that can be implemented to boost stakeholder confidence and the issues to be considered when deploying 3rd party AI technology.
Conclusion
AI is continually evolving to benefit businesses across various industries. Hopefully, with the help of this article, you have gained some knowledge on what AI is, its benefits and also the importance of considering the issues that we need to take note of when deploying 3rd party AI technology.
Given that AI is the hottest buzzword of the century, you should definitely consider learning more about it with Aventis Learning Group. We are a multi-award-winning corporate training solutions provider in Singapore that is committed to fulfilling the developmental needs of working professionals with our in-house training courses. Here are two courses that you may consider if you are looking to deepen your knowledge in AI.
1. Introduction to Artificial Intelligence for Beginners (E-Learning)
If you are a beginner looking for an online course in Singapore on AI, we have the perfect one for you. Check out our Introduction to Artificial Intelligence for Beginners course for a comprehensive overview of various AI concepts. This is a self-paced e-learning course that consists of 4 modules and 22 days of validity to complete the course in your own time. Upon completion of the course, you will receive a dual certificate from Aventis and SimpliLearn that can enhance your professional portfolio.
2. Professional Certificate in Artificial Intelligence Ethics & Governance in Action
For any companies and professionals involved in AI Projects and AI development, it is crucial to demonstrate a working understanding of the AI Ethics & Governance. Our Professional Certificate in Artificial Intelligence Ethics & Governance in Action ensures that you will be able to deploy and apply Artificial Intelligence Ethics Body of Knowledge & PDPC Governance Framework back to workplace.
This course is also suitable for those who possess basic ICT skills and are looking for IBF-funded courses on AI or are keen to find out more about incorporating 3rd party AI technology into their business, this is the course for you. Artificial Intelligence (AI) Ethics & Governance is an emerging field, and for any companies and professionals involved in AI Projects and AI Development, we will need to demonstrate a working understanding of the AI Ethics Governance Framework. Our Professional Certificate in Artificial Intelligence Ethics & Governance in Action aims to provide guidance on the strategies that can be implemented to boost stakeholder confidence and the issues to be considered when deploying 3rd party AI technology.
