Artificial Intelligence is no more just a high-end word, but it has now become a reality. It is no longer an option for the businesses to use it; rather, it has become the need of the hour, without which businesses cannot survive. However, with all this comes a few challenges of the usage of artificial intelligence.
Let us understand the tremendous impact of artificial intelligence through stats:
- There are predictions that AI will add approximately 15.7 trillion dollars by the end of 2030 to the world economy. This is the combined output of both India and China currently.
- Companies have been predicting that AI will boost the overall productivity of a business by 40%. This is a huge increase, almost 14 times for the start-ups since 2000.
Challenges Faced By AI in 2021:
Here are the top 8 challenges of Artificial Intelligence which businesses have been facing in 2021:
- Trust Deficit:
Currently, one of the essential factors that cause worry for AI technology trends is the very vague nature of how deep learning models can predict the desired output. For a layperson, it does become challenging to understand how a specific input set can get a proper solution to the various problems. A huge section of society is unaware of the existence or usage of AI and how it is so seamlessly integrated into everyday items of daily usage such as TV’s, phones, banking etc.
- Heavy Investment on Multiple Tools:
One of the most significant challenges of AI in its usage is understanding which tool or platform needs to be used. Most of the organizations make use of OpenSource Python, which does require an extensive amount of coding. Many of the known cloud service providers, such as Microsoft or Google, provide various AI sets, but the problem is that these sets work better with various other tools from their very own family. However, it is very difficult for a business to invest in multiple tools.
- Data Privacy and Security:
The primary factor on which the various machine learning models have been based is ‘Data’. No doubt, we do have data, but this data does get generated from lakhs and millions of users across the globe, and hence, there lie the chances that this data gets used for some wrong purposes. The icing on the cake is that there is more data each day added; hence with information pouring from each angle and direction, there are high chances of data leakages.
- Scarcity of Data:
Some of the major companies globally, which include Apple, Google, Facebook, have been recently facing charges of unethical usage of data. This has led to the cyber laws of countries such as India very strict about curbing the inflow and outflow of data. When we talk about AI, then data comes hand-in-hand as it is considered one of the most important aspects of AI. With the hold of biased information, the entire system we have been banking upon could become flawed.
- Restricted Knowledge:
The market is flooded with opportunities where AI can be sued, which acts as a far better alternative to the many traditional systems. However, the core problem at the base level is ‘Knowledge of AI’. Apart from a few AI enthusiasts, college students, or researchers, only a very small section of society is aware of the AI potentials and benefits. People are also not aware of the high-end service providers such as Amazon web services, Google Cloud.
- Problem of Bias:
The goodness and badness of any AI system solely depend on the amount of data on which it is trained. The truth is that, daily, organizations have been collecting insufficient data which is not relevant and holds no significance at all. Hence, they are surely biased and end up defining the specifications and nature of a handful of people with something in common, such as religion, gender, ethnicity etc.
- Human-Level is bad:
This challenge has kept the researchers on their feet. Companies today might be heavily boasting about accuracy and all, but the truth is humans can handle everything in a much better way. For instance, humans can easily predict the right output each time when they are shown the image of a cat or dog, which instantly brings up the accuracy.
- Supporting the AI IT Systems:
The AI technology trends cater to the needs and demands of the ever-fast pace growing world today. IT no doubt has made our lives easier by 10 times due to its developing systems that help us store, process or retrieve the information. IT also makes sure that the devices and technologies we are using work well and are safe. However, IT systems to get equipped with AI require additional help, which can be taxing.
Artificial Intelligence has had a huge impact on the economy as well as human lives. However, the challenges should also be taken seriously, which are stated above.
Holding a Bachelor’s degree in Technology and 2 years of work experience in a mobile app development company, Jason is focused on making technology digestible to all. Being someone who stays updated with the latest tech trends, he’s always armed to write and spread the knowledge. When not found writing, you will find him answering on Quora while sipping coffee.