AI can make decisions faster and more accurately than humans by automating certain processes. For example, airlines can optimize ticket prices using AI to analyze demand, competition, and other factors in real time, allowing for more efficient pricing decisions. The impact of artificial intelligence is being felt across all sectors. There are multiple examples of implementing AI in the supply chain, transportation, education, operations, marketing and in virtually every sector that is moving towards digitalization and moving from manual activities to activities assisted by technology.
With the help of AI, companies are better equipped to combat disasters using AI decision-making algorithms, detect anomalies and predict future behavior. AI improves automation and reduces the labor-intensive labor and tedium that comes with forecasting and predictive analysis. Internal operations, such as scheduling, reminders, and monitoring, can be managed by AI systems in project organizations with little or no human intervention. The current opaque state of AI decisions will only erode the trust that humans have in machines, especially as machines move from being simply programmed to follow a series of instructions to making decisions autonomously based on self-learning and self-reasoning.
Business and technology leaders must ensure that their AI systems have the necessary checks and balances, as well as consistent human oversight to ensure that AI is ethical and moral. Although initially blamed on human error, the National Transportation Safety Board determined that the AI had not classified as such a pedestrian crossing recklessly, since the object was not near a pedestrian crossing, as expected under normal circumstances. As mentioned earlier, it will be some time before AI systems can reflect the empathy that guides many human decisions.