DEVELOPMENT OF ARTIFICIAL INTELLIGENCE: ADVANTAGES AND DISADVANTAGES

Keywords: company, market, technology, artificial intelligence, marketing strategies, chatbot, robot, cybersecurity, computer program, innovation, profit, sales, social networks

Abstract

This article identifies the peculiarities of using AI technologies and highlights its main advantages and disadvantages. The history of the concept of “artifфicial intelligence” is studied and the role it plays in modern society is determined. The top innovative companies by the level of innovation implementation are studied in order to analyze the benefits of using AI in 2024, which integrate AI technologies into their activities the most, in terms of maximizing profits, and the positive impact of AI technologies on company profits is demonstrated on their example. It is determined that the innovation rating is headed by such companies as: ServiceNow, which introduces innovations by 89.22%, Workday with a share of 82.84%, and Salesforce.com – 82.27%. It is determined that the studied companies engaged in the creation of programs and promotion of AI took the lead in the ranking, since their activities are more than 80% driven by AI. The dynamics of net profit of Workday and Salesforce companies for 2018-2024 is analyzed. It is determined that the introduction of AI into business processes maximizes profits while reducing costs and downtime. The article depicts the implementation of the idea of artificial intelligence technologies in today's reality. The dynamics of the AI market in Ukraine in 2020-2023 are analyzed. The key advantages and disadvantages of using AI are highlighted. It is found that the main advantages are the creation of online medical consultants, financial analysts, chatbots, optimization technologies for the delivery of goods, analysis of consumer needs and increasing the profitability of companies through sales generation. It is noted that the key risks in AI are the risks of cyber threats, violation of human privacy on the Internet, distortion of information, and a possible threat to man as a rational being in terms of his complete replacement by AI. It is noted that AI cannot currently fully understand language, unlike humans who can translate machine language. It is substantiated that humanity needs to think about the shortcomings of AI, which can pose a real threat to human existence, because despite the advantages that AI provides us today, it can replace humans in all areas, and then human existence can be a threat to AI. The author draws conclusions about the peculiarities of using artificial intelligence.

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Published
2024-09-30
How to Cite
Dashko, I., Cherep, O., & Mykhailichenko, L. (2024). DEVELOPMENT OF ARTIFICIAL INTELLIGENCE: ADVANTAGES AND DISADVANTAGES. Economy and Society, (67). https://doi.org/10.32782/2524-0072/2024-67-31
Section
MARKETING