An article by RSM Cyprus
The days when the traditional practices were sufficient to equip us for a sustainable growth have gone. They now give way to new innovative approaches powered by a new technology called “Artificial Intelligence” (AI).
- What is artificial intelligence?
- Why is everyone using it?
- Is it okay to use, or will it create problems?
This article navigates the shift in the way things are being done, explores the capabilities of AI and explains why, instead of displacing us, it can work with us to make things better. By explaining AI’s transformative potential, the article aims to inspire confidence in integrating the new technology with human capabilities to augment our potential in a more dynamic and promising future.
The extra chair: Artificial Intelligence machine
Artificial intelligence is here to stay as a new technological innovation that will revolutionise the world. We have witnessed several other revolutionary technologies: the internet, which provides everyday connectivity to real-time data; mobile technology, which connects people and enables instant communication; and cloud computing, which allows storage and access of huge data amounts remotely.
AI can be seen as our “intelligent doer” assistant, who learns everything as quickly as the information reaches him and utilises this information in making smart and informed decisions. The greater the quality and quantity of data it obtains, the smarter and more relevant it becomes.
The importance of data
Data, data, data and data… this is the backbone of artificial intelligence, which shapes the essence of its capabilities. Data needs to be accurate, diverse and reliable to fuel the machine’s ability to produce intelligent results and targeted decisions. When a student is given inaccurate and wrong information, it is unrealistic to expect correct results. This is where the catch is with AI as well. If the data is flawed and biased, then mistakes are bound to happen. Users must be vigilant and understand that the machine inputs directly impact its effectiveness.
The ethical dilemma
With great power comes great responsibility. Ethical considerations, protection of sensitive personal information, data privacy, compliance and regulation demands are challenges to be acknowledged. Educating users on how to utilise the capabilities of the tools best but ensuring ethical practices are promoted is critical. The content generated by AI needs to be critically evaluated before use, while the questions asked or information feed therein should be filtered.
It is widely witnessed that students, employees, writers, producers use the superpowers of AI machines to generate ideas and content. The use of AI is not always limited to the generation of ideas. There are instances when we experience the machine creating the whole product to be published or sold in its entirety. This creates deepfake videos, misinformation, and inauthentic content. While everything can now be produced in mere seconds, users must acknowledge that the responsibility lies in them. Published information in any form must be transparent, trustworthy, human-created and authentic.
The Human’s involvement
The AI, while being a super powerful technology, should be handled only as a tool. It should augment human capabilities and not, in any way, replace people’s capabilities. Crucial decision-making should be produced through human intervention in the process and avoid over-reliance on the machine. This would mean that the traps showcased above will be minimised through the professional scepticism mechanisms. Students, people in business and leaders equipped with ethical judgment can navigate the future through an ethical path forward, taking on board the advantages of AI technologies.
