Elevated with Brandy Lawson

Understanding AI Limitations: Navigating Bias, Privacy, and Reliability in Your Business

June 24, 2024 Brandy Lawson Season 6 Episode 3
Understanding AI Limitations: Navigating Bias, Privacy, and Reliability in Your Business
Elevated with Brandy Lawson
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Elevated with Brandy Lawson
Understanding AI Limitations: Navigating Bias, Privacy, and Reliability in Your Business
Jun 24, 2024 Season 6 Episode 3
Brandy Lawson

As we explore the expanding world of Artificial Intelligence, it’s vital to acknowledge that while AI opens up a realm of possibilities, it also comes with its own set of limitations and challenges. Today, we get into some critical considerations to keep in mind to leverage AI both responsibly and effectively in your Kitchen & Bath design business.



GET IN TOUCH
💡Learn how to hire and work with experts: https://higherhelpbook.com
⚡ See how we can help your Kitchen & Bath design business: https://fieryfx.com
🔥 Book our CEO, Brandy Lawson, to speak: https://brandylawson.com

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LinkedIn: https://www.linkedin.com/company/fieryfx
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Show Notes Transcript

As we explore the expanding world of Artificial Intelligence, it’s vital to acknowledge that while AI opens up a realm of possibilities, it also comes with its own set of limitations and challenges. Today, we get into some critical considerations to keep in mind to leverage AI both responsibly and effectively in your Kitchen & Bath design business.



GET IN TOUCH
💡Learn how to hire and work with experts: https://higherhelpbook.com
⚡ See how we can help your Kitchen & Bath design business: https://fieryfx.com
🔥 Book our CEO, Brandy Lawson, to speak: https://brandylawson.com

FOLLOW US ON SOCIAL
LinkedIn: https://www.linkedin.com/company/fieryfx
Facebook: https://www.facebook.com/fieryfx
Instagram: https://instagram.com/fieryfx
YouTube: https://youtube.com/@thefieryfx.

Speaker:

As we explore the expanding world of artificial intelligence, it's vital to acknowledge that while AI opens up a realm of possibilities, it also comes with its own set of limitations and challenges. Today we're talking about some of those critical considerations to keep in mind to leverage AI both responsibly and effectively in your kitchen and bath design business. First up, let's talk about bias. Bias. AI systems learn from data sets, and these data sets reflect existing inequalities or prejudices. This means, if the data has biases, the AI's decisions could too, leading to potentially unfair or discriminatory outcomes. It's crucial for businesses to be aware of this risk, and strive to use data that is unbiased as possible to train their AI systems. Or, just bring your thinking brain. Next! We might encounter the black box dilemma. Many AI models, particularly those based on deep learning, operate in ways that aren't easily understandable to humans. Yeah, we don't know how they work. This lack of transparency can be a significant hurdle in situations like this. We're knowing the why behind the decision is as important as the decision itself for businesses. This means it might be risky to rely solely on AI for decisions that require clear, explainable rationale, especially when these decisions impact customer relationships or regulatory complaints. Next, let's just talk about the elephant in the room, data privacy. With great power comes great responsibility, particularly in terms of data privacy. AI systems really require vast amounts of data, which can include sensitive personal information. This raises concerns about data security and misuse. As a business owner, ensuring that your AI tools are compliant with data protection laws and transparent about their data usage policies is non negotiable. Typically the data you input when using an AI tool is not used in additional training of the larger model, but you need to read the fine print to be sure. Yes, AI can help you with that too. Dependence and automation bias. There's a risk of becoming too dependent on AI. This can lead to automation bias, where people might overlook their own insights or contradictory evidence in favor of AI suggestions. This dependency can be particularly problematic if the AI system's recommendations are flawed. It's essential to maintain a balanced perspective where AI supports, rather than replaces, human decision making. It is, after all, just a new tool in our toolkit, not a replacement for sound judgment and critical thinking. Lastly, AI can sometimes struggle. It struggles with generalization and overfitting. When an AI system is trained on a specific dataset, it may not perform well if presented with a new, unseen scenario. This is known as a generalization error. On the flip side, overfitting happens when AI is too finely tuned to its training, making it less adept at handling real world, varied data. For businesses, this means continuously updating and adjusting AI systems to ensure they respond appropriately to new information. AI can significantly enhance business operations by streamlining processes and offering innovative solutions. But it's crucial to approach this implementation with thorough understanding of these limitations. Being aware of and planning for these challenges, you can make more informed decisions about integrating AI into your business practices. As AI gets integrated into our daily workflows, stay informed, remain vigilant about potential pitfalls, and keep fine tuning your approach. Having a balanced strategy ensures that we harness AI's capabilities without falling prey to its limitations. So, what strategies are you going to implement to mitigate AI risks? Integrating AI is not just about upgrading technology, it's about advancing responsibility. Keeping a keen awareness of its broader implications. While the boundaries of what technology can do for us keep expanding, we need to make sure that we don't lose sight of the caution needed to use it wisely. Join us next time as we delve deeper into the practical steps you can take to integrate AI into your business operations by talking about how to choose your go to AI tool. Keep tuning in so we can navigate this complex yet rewarding world of AI together. Like what you heard? Never miss an episode by subscribing. Head over to listentoelevated. com to subscribe or share with a friend. Everyone deserves to have less stress and more impact.