AI SWOT Analysis
As the artificial intelligence juggernaut continues at breakneck speed, we decided to create an infographic looking at the strengths, weaknesses, opportunities and threats of AI; this also appears on our Pinterest page along with some other fine Eight PR creations.
Strengths
Major AI strengths include its ability to process huge amounts of data quickly and accurately, the ability to identify patterns, and the automation of repetitive tasks. The freeing up of time is an enormous incentive to use AI-powered applications and saying goodbye to, for example, Excel spreadsheets.
Weaknesses
As we wrote in a blog post last month, AI suffers from bias with the reinforcement of misrepresentation, discrimination, and there are concerns about ethics and legal issues. Yet there is another weakness, and that's the enormous amounts of quality data required to train AI models. Then there are issues about exactly where that data comes from and how it was obtained.
Opportunities
AI can help companies make data-driven decisions, improve efficiency, reduce costs, and gain competitive advantages by improving the overall customer experience. The biggest opportunity is for AI used to replace tedious, repetitive jobs at a scale and speed unmatched by humans. Or, another, is the processing of data leading to healthcare breakthroughs.
Threats
AI is being used for launching cyberattacks at speed and scale and the emergence of AI-powered deepfake audio and video threats poses a threat to business. There are valid concerns about AI leading to job distruction.
AI SWOT Infographic
AI is unstoppable and it will be interesting to see how this will play into workplaces. There are hundreds and thousands of AI-powered applications already in the marketplace designed to work with humans rather as replacements.
You may be interested to read about a lighthearted experiment we conducted to see how various AI chatbots were able to recognise and describe a photo. This can be found on our LinkedIn page; see if you can spot the one thing all the chatbots missed (the answer can be found in comments section).
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