Category: ai-technology | interview-preparation
By Aleah Lindsey

Eknomik


  • Advantages:

    • Improved efficiency and productivity in various industries.

    • Cost reduction through automation of repetitive tasks.

    • Enhanced decision-making using data-driven insights.

    • Personalization of products and services for consumers.

    • 24/7 availability of services and support through AI systems.



  • Disadvantages:

    • Job displacement and loss of employment opportunities.

    • High initial costs for implementation and technology integration.

    • Data privacy concerns and ethical considerations.

    • Dependence on technology leading to vulnerability in case of failures.

    • Bias in AI algorithms, resulting in unfair outcomes.



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