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Impact of Artificial Intelligence
Artificial intelligence is an important technology that has revolutionized various industries. It has various aspects that increase its value in an organization. For instance, it has a low error rate, it collects more data, and it improves the speed and accuracy of production. Increasing the accuracy of production and boosting the quality of products and services enhances customer satisfaction (Makridakis, 2017). Companies have adopted the technology to ensure their customers receive services day and night. Therefore, technology has been applied in various sectors to enhance the production of goods and services.
Artificial intelligence is applied in medical sciences to reduce the rate of misdiagnosis and improve accuracy during surgical operations. For instance, technology helps in improving the rate of early detection especially high-risk diseases such as cancer. Makridakis (2017) notes that early detection of a condition is critical in saving people’s lives and reducing medical expenses. Artificial intelligence is also used in healthcare to recognize patterns of behavior and thus create logic. The patterns are essential in learning behavior and thus promoting effective decision-making (Makridakis, 2017). For instance, an organization can utilize artificial intelligence diagnostic machines to ensure patients’ data is captured accurately for safe and accurate prescription of drugs.
Organizations benefit from artificial intelligence since they collect a massive amount of data that would be tedious to collect manually. The data is effective for companies to determine the future demand and appropriate pricing of products (Reilly, 2019). For instance, an organization can learn that a reduction in prices or an introduction of discounts increases demand. According to Reilly (2019), others can also use the data to determine the goods they will sell to specific markets including both low-income and high-income earners. The critical decisions promote business competitiveness and profitability.
The technology has revolutionized society since it has taken jobs that would have involved human effort. Organizations such as factories are investing in artificial intelligence compared to employing people (Reilly, 2019). The negative impact on society continues to be devastating since companies are creating fewer job opportunities compared to decades ago. For instance, companies are investing in security systems that can screen people and send alerts to a control room for immediate action. According to Reilly (2019), artificial intelligence has positive and negative impacts. However, the positive impact outweighs the negative impact since society is becoming better with the utilization of such technologies. Artificial intelligence continues to create a tremendous impact on society affecting companies and individuals negatively and positively.
References
Makridakis, S. (2017). The forthcoming artificial intelligence (AI) revolution: Its impact on society and firms. Futures, 90, 46-60.
Reilly, P. (2019). The impact of artificial intelligence on the HR function. Which way now for HR and organizational changes? 41.
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