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Afraid of AI? Where Artificial Intelligence can benefit your business

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AI risks: The fear modern sci-fi movies are made of

When thinking about Artificial Intelligence (AI) we have several pictures coming up into our minds. These are strongly influenced by the touch points we already had with AI. There is an ambiguity on how AI is perceived in society. One of the pictures creating fears of AI and spooking around for several years is one that numerous books and sci-fi movies to illustrate. Like in the Matrix-movies, the Terminator-Movies or 2001: A Space Odyssey: a Superintelligence taking control over humans. However, one might argue that there have also been positive depictions of AI in movies or series such as Star Trek, with highly intelligent algorithms benefiting humans. All in all, as pointed out by the Forbes Magazine, the good side of this emotional ambiguity and “general anxiety is the realization that whenever human society has faced a major change or shift due to technological advances, humans have developed and adapted right along with it”.

Risks and benefits of AI for your business

So let’s take this as a sign of progression and ask ourselves: What kinds of risks of AI do I have to consider for my business? What are the benefits? And what about my employees and potential fears?

The shift towards AI is happening now

First of all it is important to mention that the great relevance of Artificial Intelligence for the future of businesses and industries is undoubtable. At this very moment companies in all kinds of industries use or start using AI not only for their products, but also for their internal processes.

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Challenges and Benefits of implementing Artificial Intelligence

In the past, the fear of AI taking jobs and leading to unemployment has kept people skeptical, even anxious, about introducing i.e. robotics. Nowadays, studies such as the survey by the IUBH University show that the opinion and perception of the potentials of Artificial Intelligence have changed. Not only has the fear of this superintelligent, control overtaking power vanished — actually the great majority of employees take a very positive stance towards Artificial Intelligence. They are expecting it to bring more efficiency, relief and velocity to their work and hence benefit from it. Regarding past developments, AI creates new job roles and chances for employees to develop. Therefore, offering education and trainings for the employees can be crucial for the success of a company: According to an international Microsoft study companies are most successful in facing new challenges if they focus on improving the skill set and supporting a culture of constant learning.

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The future of AI

As we have seen, Germany is on a good path and taking the right, first steps in developing and implementing the AI strategy, endeavoring to coin the notion “AI made in Europe”. Meanwhile, many other countries worldwide already had their strategy set years earlier and are actively integrating AI. Nevertheless, the potential of the German industry may not be underestimated, as Amir Husain, founder of the AI company SparkCognition, points out:

Change the world for good with AI

The AI transformation is happening and the question is simply on how fast it can happen. Even more exciting is the consideration of how AI will shape other trending topics such as climate protection, sustainability or social equality. Ideas such as forecasts and recommendation engines for finding the optimal locations for renewable energies, autonomous driving, precision farming technologies or algorithms drawing attention to social inequalities are just a selection of the potentials.

 


If you want to discuss the potentials of Artificial Intelligence in your business context and see what potentials exist, feel free to contact us!

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