Pros & Cons of Artificial Intelligence

Pros & Cons of Artificial Intelligence

Written by: Josane

What is Artificial Intel?

Artificial intelligence (AIis not just a strange technology which turns businesses operations impersonal and cold. Artificial Intel is as well not just functions undertaken via computerization which are rapid. There is a difference between Artificial Intel and systematic dispensation software.

They are actually programs with an ability to make decisions and judgments that are informed through recognition of data patterns. In other words they can actually help us make decisions based on core facts.

Artificial Intel ought to be a tool for personalization and enhancement of customer interaction through processing and collection of data. However in the Caribbean we seem to be a bit behind. If you take a look at doing business in many of our territories there is still a significant amount of paper based functions being carried out manually.  We are sure that you can take some of the many processes across the Caribbean basin and make them so much easier and quicker in turn-around. However we are caught up by the global trends to use AI only from a consumer perspective rather than a producers position.

The current thought process is that in many territories the paper based position keeps persons employed. This also keeps persons in a menial position as well, as we experienced in some of our own institutions.

Having interacted with a few clerks within various Caribbean companies, the clerks were all asked – “Why don’t we have this process – automated and with AI to complete these tasks?” to which the clerks responded in a variant of – “Do you want me to lose my job?

Artificial Intel impact on Jobs

As the world moves forwards towards incorporation of Artificial Intel to an array of sectors, tough competition grows among those employees who lack skills requisite for managing, implementing and working together with this ever-growing technology. Thus in workplaces that are already automated or moving towards automation, it is necessary for upcoming and existent professionals to embark on skill development so as to maintain relevancy. Branches under some sectors might experience absolute replacement of human labor but most will require coordination for purposes of functionality. The worker of today just needs to be strategic…

One the other hand, there will be a greater demand for able staff to push the Artificial Intel forward, maintain and control it.

This adaptation will lead to job securities and even need for newer channels of skills so as to keep up with these rapid developments. Optimistic analysts project a higher growth rate in employment as Artificial Intel finds its way into the arrays of already existent and upcoming markets.

In fact the use of more AI, will create more jobs as if you look holistically, there is the need to:

  • Build and custom create AI to suit the cultures and micro cultures within the Caribbean
  • Implementation of AI to service the more than 40 Million persons living in this region
  • Maintenance – as they will inevitably need managing and upgrades and servicing
  • End of Life – How do we make the AI services hardware and even software recyclable?


How it will affect morale of workforce?

It is however unavoidable for low skilled workers to lose jobs in huge numbers, as sophisticated technology has to be implemented so as to cater for growing population and need for speed. These inventions will lead to pop-ups of new industries and careers. Any business that makes use of this now can more or less lead the pack.

Just as previous generations found it hard to form predictions of blogging and social media fields, so will current generation have to accept the pros of Artificial intelligence.

With the decline of low skilled jobs which are based on repetition, there will be more efficiency in the workplace. This will definitely impact productivity of the workforce, since focus will be on improvement and maintenance rather than tiresome repetitive tasks.

Cost effectiveness

Artificial Intel comes into being to save time, this school of thought automatically leads to the notion that saving time is also saving money which to greater extents is very true. Since artificial intelligence as well will not necessarily lead to job loss but rather placements of humans on higher levels of productivity, client needs will be met faster – with better goods and service, thus more income generating approaches.

Caribbean Businesses, and even Caribbean Government Institutions – ought to incorporate Artificial Intel in order to be relevant in the market, be at par or ahead with competition and serve clients needs effectively while boosting productivity of its workforce.