Answers to the 3 “Big Questions” in Artificial Intelligence

Nov 8, 2017

AI-based retail services

For years, the business world interpreted data to formulate meaningful business strategies using traditional analytics. However, technology has made life more easy and advanced for us. Technologies like artificial intelligence are slowly transforming our everyday lives just like how the internet and smartphones did years ago. So here are three answers to the three questions about analytics and AI technology that probably would have run through your mind at some point in time.

Why is Artificial Intelligence the Next Big Thing in the World Of Technology?

Before the invention of AI technology, did you think anything could be as superior or much more advanced than the human brain? Well if the answer is no, then that is precisely why there is so much hype around artificial intelligence. Artificial intelligence can do what the human brain does in a much faster and organized manner. This feature of AI technology has attracted players from various industries such as healthcare, heavy industries, air transport, gaming, etc. to adopt and incorporate this technology into their business operations.

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Why Should You Not ‘Leapfrog’ to Artificial Intelligence Ignoring Analytics?

The world is headed for a new era of transformation with technologies like artificial intelligence in place. Though analytics had been the basic foundation stone for formulating important business decisions, over the years companies have started relying more on technology to wash their hands off analyzing complex data sets and arriving at the right solutions. However, companies should understand that as much as AI technology has been a boon, bypassing analytics is not a smart shortcut to incorporate AI technology as analytics is one of the key milestones on the path to being successful in artificial intelligence. Analytics helps companies to drill down various historical and current information about the business to have a broader view of the business scenario. Therefore, it is fallacious for companies to believe that they can ignore analytics and incorporate only AI technology into their business.

Despite its Superior Technological Expertise, Why Are People Still Skeptical About the Future of Artificial Intelligence?

It has been rightly said that nobody or nothing is perfect. AI technology is also not free from flaws. Artificial intelligence lacks in the following areas that are making many skeptical about its utility in the long run. A few of these challenges are listed below:

  • Lack of emotional intelligence to enhance customer experience
  • The tasks performed by AI technology are specialized and cannot be altered easily
  • Machines using artificial intelligence will replace more jobs
  • Difficult to carry out tasks which require collaboration with various segments or departments

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