AI in web2 industries: possibilities, expectations, and limitations.
With the current mass adoption of ChatGPT, Microsoft’s latest product, and the continuous demand for advanced technology interaction and dependency by humans, it is safe to say that AI has indeed been a huge success for technology. And following the trend from its use, we have seen users utilize ChatGPT to
-create conversations,
-create sales copies and written content,
-write high level examinations (MBAs,etc),
-conduct researches,
-find answers to controversial questions, and even;
-make enquiries about certain symptoms and health issues.
In fact, since its official launch in November of 2022, well over 100 million users have found confidence in the knowledge base of this supposedly futuristic technology.
Humans and AI dependency.
As is typical of humans, we love to simplify our work processes using technology. Already, a vast majority of industries and sectors are beginning to imbibe and implement the utilization of AI technology.
While this is laudable, it may also be a dangerous substitute for human-necessary roles and responsibilities. This is because AI is currently more result oriented than process based. What this means is that while AI may simplify our work, it ignores a lot of intricacies, that only humans can factor into consideration.
For context, AI is simply Yes, No, and If-Then. When using AI, there is an already preset database that the system uses to provide answers to questions, and proffer solutions to problems. For more advanced AI systems, they have a wide variety of databases, and sometimes, can refer and infer from others, to gather information and responses, as authentic as possible, according to the input request by the user. This means that AI interactions can only provide a direct response to its query commands, and not factor in auxiliary details which may, have a great impact on the authenticity of the response.
Web2 industries best positioned to lead AI adoption.
Although still undergoing adjustment and fine-tuning , AI has already shown its prowess. And in this post, we would be looking at major industries/sectors where AI could make a great impact, their possibilities, expectations, as well as limitations.
Education.
The education sector is one of the sectors most likely to integrate AI for public use. As stated already, AI is currently being used to write exams (only for test purposes) and have always recorded impressive results.
- Possibility: In this sector, we see a future where AI is used to;
- create academic syllabuses and educational materials,
- teach, grade and correct students,
- determine quality of preexisting (and human computed) syllabuses,
- oversee and qualify human tutors performance, and
- assist students as a learning aid.
Gaming and Entertainment.
The entertainment and gaming industry is one of the most technologically progressive industries in web2. Already, several big entertainment and gaming brands (eg: Warner Bros, Steam, Ubisoft, etc) are already expanding into web3, and ready to evolve as technology does.
Possibility: Here, we expect to see the use of AI;
- for in-game assistance,
- to create custom user experiences and activities,
- to create virtual friends and communities,
- create, customize, and personalize characters.
Transportation.
Companies like Tesla, Mercedes, and Volvo are already spending heavy budgets, making use of AI technology in numerous ways.
Possibility: Here, AI is already being used
- for autopilot mode,
- to scan and observe vehicle’s environment to protect from collision,
- to scan, diagnose and record vehicle faults and loosing parts,
- for advanced user experience, and
- as drivers’ virtual assistance.
Fashion and Lifestyle.
There are already tons of fashion and lifestyle projects currently running, using NFTs and blockchain technology.
Possibility: While they may seem to be ahead of their time, we see a future where AI;
- is used to create metaverse beings,
- records, develop and tracks weight gain and dieting programs for fitness enthusiast,
- conducts sampling and fitting tests without need for in person meetings,
- is used to advise and assist users on health chooses and lifestyle characteristics.
Banking.
The banking and financial management sector is already being threatened by the emergence of blockchain technology. Today, billions of customers funds have been deposited into various DAOs and DeFi platforms, and we expect this trend to continue, as individuals can now manage their wealth themselves.
Possibility: In this sector, we expect to see AI being used;
- to replace paper documentation,
- for customer assistance,
- risk calculation and forecasting,
- to execute trading orders,
- replace the need for in-person conversations,
- to spot fraudulent options and reduce risk of theft, etc.
Other notable mentions include;
- Marketing,
- Digital assistance,
- Record keeping, etc.
Limitations and hindrances.
Across these and other sectors gravitating towards AI, the goal is simple. To cut cost, reduce operation time, and increase output efficiency. However, AI, as an emotionless engine, fails to be ideal for several other industries. This is mostly because these industries requires sentiment and emotions to guide decision making. Examples of such sectors included;
- Healthcare: While AI may be able to make almost accurate health predictions from habits, AI (not robotics) cannot administer care to ailing patients. Without a robot to perform these tasks, AI cannot touch, or help sick patients where a human caregiver should be needed.
- Arts and Crafts. Some enthusiasts have argued that depending on AI to create arts will not only reduce the quality, but slap the arts industry. Realistically, a future where AI engages in arts such as pottery, painting, weaving, etc, is unseeable right now.
- Construction/ engineering. In an engineering field where human supervision and correction is required, AI may prove to be counterproductive, as its inability to pause, analyze and correct errors would hinder its independent operation.
In general, here are some of the major limitations which would oppose AI adoption and integration in other sectors.
- Human supervision. It is almost impossible for. AI to perfect instructions without supervision from a human handler.
- Limited to given instructions. Humans have the ability to pause and analyze work progress, whereas, AI can only carry out commands, without reasoning to adjust methods when need arises.
- High cost. The cost of developing AI is very high, as so is its maintenance cost. As a result, only highly financially stable companies are able to “test the waters” of AI.
- Inability to evolve. AI only operates with its input commands, and as such, cannot evolve without human intervention. Therefore, relying on such rigidity in industries where evolution of ideas and process is required, may be futile.
- Sunken cost. Companies who are frontiering the adoption of AI spend miscellaneous money on its research and development. Therefore, the opportunity for growth using AI is only limited to big organizations with enough to spare on supposedly frivolities.
Summary.
AI is great technology for the future, already being developed today. And as we can see, AI will help us a lot as humans. However, AI will be unable to replace humans, no matter how advanced we think they might get to.
