Artificial Intelligence: Boon or Bane?

Rashmi Karan
Manager - Co ntent

Updated on Jan 18, 2024 17:50 IST

Artificial Intelligence (AI) is among the fastest-developing technologies with many applications.
From playing our favourite music to assisting in complex surgeries, AI has made the lives of
humans easier by offering solutions to problems. Such a revolution in technology has been
intriguing, and there has been a lot of discussion around the topic- of AI- boon or bane. In this
article, we will learn the advantages and disadvantages of AI and what we should expect in the
future.

Content – AI, boon or bane?

What is Artif icial Intelligence?

Applications of Artif icial Intelligence

Advantages of Artif icial Intelligence

Disadvantages of Artif icial Intelligence

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What is Artif icial Intelligence?

Artif icial intelligence is a branch of computer science and refers to a technique that
enables machines to mimic human behaviour. AI can improve on past iterations and
become smarter and more aware, allowing it to improve its capabilities and
knowledge. With AI, machines perform cognitive functions like learning, planning,
reasoning, decision-making, and problem-solving. AI is a machine’s simulation of
human intelligence, and it could solve major real-world challenges. This is why we are
discussing whether AI is a boon or bane!

AI Facts
T he global artif icial intelligence market is projected to expand at a compound annual
growth rate (CAGR) of 37.3% between 2023 – 2030. It is projected to reach $1,811.8
billion by 2030.

A report by NASSCOM suggests that AI use in India could add USD 450-500 billion to the
country’s GDP by 2025.

PWC suggests that AI will contribute $15.7 trillion to the global economy by 2030.
Interestingly, it is more than the current output of India and China combined.

IBM reports that over 35% of companies have already adopted AI in their operations.

91.5% of leading businesses invest in AI, reports CompT IA.

Gartner suggests that customer satisf action is expected to grow by 25% by 2023 in AI
organizations.

77% of the devices we use these days f eature at least one f orm of AI. Instagram and
Facebook f ilters are the perf ect example of this.

ChatGPT , a popular GenerativeAI tool, currently has over 100 million users. T he website
generated 1.6 billion visits in June 2023.

Applications of Artif icial Intelligence

Artificial intelligence applications are numerous and ensure benefits like improved
services, better customer satisfaction, and behaviour forecasts. Some of the crucial

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applications of artificial intelligence in a number of industries are as below –

Healt hcare

Artificial Intelligence (AI) is transforming the healthcare industry in numerous ways,

enhancing diagnosis, treatment, and patient care. Here are some real-world
examples of how AI is being utilized in healthcare:

Medical Imaging Diagnosis

IBM Watson for Oncology: IBM Watson analyzes large volumes of medical data to assist
oncologists in f ormulating personalized treatment plans f or cancer patients.

Google’s DeepMind: DeepMind’s AI models have been used to diagnose eye diseases,
such as diabetic retinopathy, by analyzing retinal scans.

Drug Discovery and Development

Atomwise: Atomwise uses AI to predict the binding af f inity of molecules to target

proteins, expediting the drug discovery process.

Insilico Medicine: T his company uses AI to identif y potential drug candidates by

analyzing large datasets and simulating the ef f ects of compounds on biological systems.

Personaliz ed T reatment Planning

T empus: T empus combines clinical and molecular data to help doctors design
personalized treatment plans f or cancer patients.

PathAI: PathAI assists pathologists in accurately diagnosing diseases f rom tissue

samples using AI-powered image analysis.

Health Monitoring and Wearable Devices

Apple Watch: T he Apple Watch can monitor heart rate, detect irregular rhythms, and even
predict f alls, providing users with valuable health insights.

Fitbit: Fitbit’s wearables track activity, sleep patterns, and heart rate, of f ering users a
comprehensive overview of their health.

Predictive Analytics and Patient Management

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 EarlySense: EarlySense uses AI to monitor patients’ vital signs, enabling early detection
of deterioration and reducing the risk of adverse events.

Predictive Analytics at Hospitals: Hospitals use AI to predict patient admissions,

identif y high-risk patients, and allocate resources ef f iciently.

Natural Language Processing (NLP) in Healthcare Records

Nuance Communications: Nuance’s Dragon Medical platf orm uses NLP to transcribe and
analyze doctor-patient interactions, streamlining documentation and inf ormation
extraction.

Robot-Assisted Surgery

Several specialities offer robotic-assisted procedures to treat various conditions.

Some examples of such surgeries include Cardiothoracic robotic surgery, Colorectal
Robotic Surgery, Gastrointestinal robotic surgery, Gynecologic robotic surgery,
Neurological robotic surgery, Otolaryngologic robotic surgery, Urologic robotic
surgery, etc.
da Vinci Surgical System: T his robotic system assists surgeons in complex surgeries
with enhanced precision and minimal invasiveness.

Disease Identif ication and Outbreak Prediction

BlueDot: BlueDot’s AI platf orm analyzes global news, airline data, and other sources to
predict and identif y disease outbreaks.

HealthMap: HealthMap uses AI to aggregate and analyze data f rom various sources to
track the spread of diseases in real time.

Tourism

Personalized Recommendations: AI algorithms analyze user preferences, behaviour,

and past interactions and, in turn, provide them with personalized travel
recommendations about places to visit, accommodations, etc., as per the traveller’s
interests and preferences.

Itinerary Planning : Generative AI tools can assist in creating detailed travel

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itineraries, suggesting activities, transportation options, and time allocations. A fine
example is a traveller named Madison Rolley, who went viral for saying that
ChatGPT saved her “anywhere from two to five hours” of extra research, along with
some bucks.

Dynamic Pricing : AI algorithms help determine optimal pricing for flights,

accommodations, etc., by analyzing market trends, demand patterns, and
competitor pricing. This point is particularly helpful for businesses as it allows them
to adjust real-time prices to maximize revenue.

Fraud Detection and Security: Credit card fraud has been an area of concern for
businesses as well as customers. AI algorithms can detect fraudulent activities in
bookings and transactions by analyzing patterns and identifying anomalies,
enhancing customer and business security.

Image Recognition : You can very easily identify landmarks, objects, and scenes in
just one lick, all thanks to AI-powered image recognition technology. This enhances
the travel experience by providing accurate information about points of interest.

Customer Feedback Analysis: AI algorithms can analyze customer reviews and

feedback to extract insights about areas for improvement. This helps businesses
enhance their services and adapt to customer preferences.

Chatbots and Virtual Assistants: AI-powered chatbots and virtual assistants provide
instant customer support, answering queries related to travel plans, bookings, and
destination information.

Health and Safety: After the COVID-19 pandemic, the travel industry has extensively
used AI to enhance health and safety measures. Some examples include
temperature screening, social distancing monitoring, and contactless check-in
processes.

Smart Assistants

Siri, Google Home, and Amazon Echo are popular smart assistants and good
examples of AI applications. These devices use natural language processing (NLP) to

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interpret the consumer response and respond either verbally or by executing a
specific action.

Chatbots

When you enter a web page, you will find interactive chatbots that suggest
products/restaurants/ hotels/services based on our queries. Chatbots are computer
programs that simulate and process human conversations. It is one of the clearest
examples of artificial intelligence, as are Amazon’s Alexa, Apple’s Siri, or Microsoft’s
Cortana, which we find integrated into our everyday devices.

Education

AI makes it possible to detect and provide the right solutions. For example, if a
student is going to drop out, offer them alternatives, search for courses that adapt
to the needs of each student, control class attendance, and prevent school
dropouts.

Applicat ions of AI and Machine Learning in Educat ion

Techno lo gy is changing every aspect o f o ur lives, including educatio n. AI-based
educatio nal techno lo gies, apps, etc. Artificial intelligence and machine learning
in educatio n o ffer perso nalized learning to ensure an individualized
educatio nal...re ad m o re

Myt h Bust ing – Art if icial Int elligence Will Take Your Job
Will artificial intelligence and ro bo ts take up yo ur jo bs in the co ming years? Well,
it’s time fo r myth busting, lets do this –

Healthcare

Obtaining more accurate and faster diagnoses is essential for applying appropriate
treatment in the healthcare sector. For example, during the COVID-19 pandemic, AI
could give early warnings of the Pandemic, predict localized infections, analyze
news, or carry out pre-diagnosis of the virus through apps.

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Logistics & T ransportation

AI has played a crucial role in the COVID-19 pandemic, with several autonomous
aircraft and drones transporting medical supplies and delivering vaccines in remote
locations. Besides, AI is useful in avoiding collisions and traffic jams, improving traffic
behaviour, and optimizing traffic light control.

Sales

AI applications also offer sales forecasts to choose the best products to

recommend to customers. Multinationals like Amazon use AI to identify whether a
product or a launch would succeed, even before selling it. AI helps optimize the
purchase and distribution processes and avoids losses or breakages.

Autonomous Vehicles

Artificial Intelligence is the most important and sophisticated component of

autonomous vehicles. These vehicles have sensors, cameras, and smart
communications systems that generate data. This data, in combination with AI, can
help to mimic human behaviour and enable vehicles to perform efficiently.

Electronic Commerce

Artificial intelligence is used in e-commerce to –

Recommend related products to the customer

Remind them of the past purchase

Predict whether or not a product will be successf ul

Optimize inventory and avoid out-of -stock, predict revenues

Art if icial Int elligence and Machine Learning –Similarit ies…

and Applicat ion
Whenever there’s a discussio n abo ut artificial intelligence, the first thing that
co mes to mo st peo ple’s minds is so mething sho wn in mo vies, video games, o r read in bo o ks that are
a...re ad m o re

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o n 19 -Jan-20 24.
 Best Resources t o Learn Art if icial Int elligence in 2024
Artificial intelligence (AI) is o ne o f the mo st transfo rmative techno lo gies o f o ur
time, rapidly changing the wo rld aro und us. Fro m self-driving cars to medical
diagno sis to custo mer service, AI so lves...re ad m o re

Advantages of Artif icial Intelligence

Artif icial Intelligence reduces human error.

Contributes to risky tasks that humans can’t perf orm, such as exploring the depths of the
sea, space expeditions, etc.

AI can perf orm tasks at long stretches with constant human intervention compared to
human labour.

Companies can rely on AI to saf eguard consumer data

Disadvantages of Artif icial Intelligence

Higher costs are involved because of machine complexity

Since AI automates a lot of tasks, it has made humans addicted to smart devices and
become lazy

AI can easily perf orm repetitive and heavy tasks and has replaced human labour. e.g.
Process automation in industries

As of now, AI can not replicate human emotions and connection, an essential attribute to
the team working

AI and machines are programmed to perf orm f unctions, so it may take some time f or them
to innovate at perf orming tasks

What Are t he Core Subject s in Art if icial Int elligence (AI)?

Artificial Intelligence (AI) is a buzzwo rd no wadays. Co mpanies like Go o gle,
Facebo o k, Tesla, Amazo n are do ing cutting-edge wo rk in AI. So , what is AI? Is it
the same as co mputer science?...re ad m o re

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o n 19 -Jan-20 24.
 Art if icial Int elligence vs. Dat a Science – Know t he…
Dif f erences
Data science and artificial intelligence (AI) applicatio ns are experiencing a truly
stellar mo ment. The ability to use data to disco ver o ppo rtunities generate meaningful kno wledge and
suppo rt decisio n-making pro cesses are widely...re ad m o re

Conclusion

Coming to the question of whether AI is a boon or bane, the answer is tricky. The
fear of omnipotent machines acting like humans isn’t far-fetched. Elon Musk has
repeatedly warned that AI will soon become just as smart as humans, and that will
be a very scary situation because humanity’s existence will be at stake.

Ethics in AI has always been a point of discussion, and given how successful AI has
been in transforming human lives; we can’t think of our world without its active role.
In the future, we will witness more revolutionized AI, with autonomous driving and
flying in our daily lives, AI replacing many human-driven tasks, etc. If humans and AI
have aligned interests, both will go hand in hand; if they don’t, it gets conflicting.

We need to discuss at what rate we can allow the technological revolution to

continue. The future will be very different for the next generation, and there is a
need to have more stringent policies to use AI to benefit humans and make
groundbreaking discoveries.

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FAQs

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Is artif icial intelligence good or bad?

What are the potential benef its of AI?

What are the potential risks of AI?

How can we ensure that AI is used f or good?

What is the f uture of AI?

Disclaim e r: This PDF is auto -generated based o n the info rmatio n available o n Shiksha as
o n 19 -Jan-20 24.