There are two myths surrounding artificial intelligence (AI). First, AI is a threat to employment. However, such assistive technologies in partnership with man create a successful two-member team. The input data depends on human experience and the output requires human interpretation. AI is not a competitor of man; in fact, it is an assistant to the man. Second, AI has no limitations. For instance, ChatGPT cannot create new information, it can summarize human-created information from several sources to provide a definitive answer. Automation and filtration are the major reasons for using such a “machine”. However, requirements such as skills, judgement and abilities are still in the control of “man”. What is the right approach to adapting AI? The learning curve approach where AI provides supervised learning. Accurate use of AI by humans can increase the potential of both Man and Machine.
Even though several uses of AI are reported, there is a sense of insecurity, threat and doubt. Accordingly, important questions arise – what is the most efficient use of AI which helps in enhancing performance across industries? How can AI increase its acceptance across industries? Is AI a threat to a man? In this regard, we found that the best use of AI is in decision-making and in man-to-man communication. A look at examples…
Farming
Agroindustry systems that are using renewable energy can investigate energy efficiency, solar irrigation, drip irrigation, and geothermal irrigation by allowing AI to calculate energy consumption or resource utilisation. Smart sensors help in monitoring the crops’ vitals with real-time analysis and solutions. For example, Sentient is raising perfect crops using AI which considers variables such as water, soil, UV light, and heat on basil. ‘Smart farming’ can combine the real and automated world using AI for better decision-making between agricultural sector workers and AI.
Manufacturing
The benefits of using AI in manufacturing are a reduction in errors and lapses in quality, an increase in acceptance rate to predict failure, easy maintenance, reduced overproduction, and better demand forecasting. Robotic process automation uses several systems that help in reducing time on redundant tasks and increase productivity. This leads to continued innovation of ‘intelligent products’ through joint efforts in manufacturers and AI dyads.
Education
The curriculum at any education level should be able to adapt to the needs of students, faculty and Government. For example, during the budget 2023 proceedings, Nirmala Sitharaman announced AI, Robotics and 3D planning as a new age course. Teaching techniques, curriculum and co-curriculum can be devised using AI. Therefore, learning ‘with’ and ‘about’ AI creates ‘intelligent classrooms’ which give birth to technology-driven and ‘intelligent students’ or ‘intelligent resource persons’. Learning with intelligence empowers the faculty-student dyad towards better education.
Healthcare
Hospitals have noted that the effort to document each patient’s case can be reduced. The focus shifts from paperwork to patient care. This also creates a well-designed and labelled repository of all records. ‘Intelligent operations’ in hospitals can curb chaos in emergencies like oxygen requirements during Covid-19, the formula for vaccines or vacant hospital beds. For instance, during Covid-19 Bharat Biotech and other pharma companies were running experiments for vaccine discovery. Science and social science require several experiments for novel findings. However, it is found that if certain compounds are recognised by AI from prior trials it helps in a faster trial process.
Financial Services
AI has been vastly adapted in global banking solutions. Banks like J.P. Morgan Chase use AI algorithms to note transactions that show fraudulent patterns that don’t fit normal patterns. Several financial service providers have stated that ChatGPT can handle client interactions for claims processing for simple claims. A comprehensive way to increase the potency of trading is through AI. Trading transactions are handled by algorithms. Consequently, AI-powered algorithms that help in reading market data can help humans make faster decisions.
Electronics and Technology
Digital voice assistants (eg: Alexa), online decision support systems (eg: using Chatbot), and social augmented reality (eg: companies that allow “trying” out products online) can use image processing, information retrieval and communication benefits of AI for interactions between the man and machine.
Retail
Assimilated, automated and professional advice that summarizes information from several sources helps in providing better customer support. Amazon is trying to develop an AI algorithm that can predict precisely what you require. This helps in creating a balance in the exchange-of-benefit relationship between retailer and customer.
AI applications are not limited to man-to-machine decision-making communications but also it helps in enhancing decision-making in “man-to-man communication”. For example, Amazon, which is creating algorithms for predicting purchases of a single individual, can take into account their family and friends’ product preferences since decisions are not made alone. Metaverse, virtual reality (multi-player games in a virtual world), social augmented reality, online messaging apps (WhatsApp), social media (Facebook) and virtual workspaces (Gather) focus on the ‘social life’ of humans. AI will support decision-making in such an environment where there are several interactions and joint decisions are required.
Decision-making is never made in isolation and several stakeholders are involved. AI is not only good for learning about an individual but also the social interactions that they have with colleagues, friends, clients, customers, family, audience and others both online and offline across industries. Thus the true need and use of AI is in decision-making and man-to-man interactions.
(Author is PhD Scholar at ICFAI Business School, Hyderabad and Co-founder of Byrut Business Solutions)
