Industries where AI makes little economic sense

Artificial Intelligence will be particularly efficient in operations involving large amounts of data. Using AI in the industries where the scope of information is limited is not cost-efficient, according to Anton Berentsev, CEO of Intellect Lab, who spoke at the business breakfast “Artificial Intelligence in business processes” on August 22. 

“Today Artificial Intelligence is capable of making decisions and does not require statements of job. Robots can handle problems of unlimited complexity. AI is particularly efficient when dealing with large amounts of disaggregated data, figures or unrelated texts,” the expert said.

However, he says that robots can still make mistakes just like humans.

“AI learns from the data collected by people. If this data contains errors robots may repeat them, even if partly. Therefore, AI must include an error correction algorithm.”

The expert explained that the AI technology is maturing.

“When technology matures it produces a number of standard solutions that can be purchased and then tweaked to fit your purpose. Specialized solutions are becoming less relevant,” Anton Berentsev added.

He summarized by saying that more and more people are beginning to trust Artificial Intelligence.  

“The Association of Chartered Certified Accountants that unites finance, accounting and audit professionals conducted a survey that showed that 59% of financiers are ready to delegate some of their business processes to Artificial Intelligence if it was developed by a well-known developer. However, 41% are still reluctant to use AI.”

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