• SWOT analysis

The below SWOT (Strengths, Weaknesses, Opportunities, and Threats) analysis offers an overview of the advantages and obstacles you may face when using GenAI.
AI can process data far more efficiently and rapidly than humans.
Interpretation Issues
AI can misinterpret instructions due to the lack of inherent understanding.
Error Reduction
AI can significantly reduce the chance of error, providing high precision and accuracy.
Data Dependence
AI performance is directly tied to the quality of the data it’s trained on. Poor quality data leads to poor outcomes.
24/7 Operation
AI can operate without interruptions, unlike humans who need breaks.
Lack of Creativity
AI may struggle with tasks requiring high levels of creativity or original thought.
Automating Repetitive Tasks
AI excels in automating routine tasks, freeing up time for humans to do more complex tasks.
Ethical Constraints
AI systems can’t comprehend ethical considerations like humans can, leading to potential misuse or harm.
Risk Management
AI can predict outcomes and mitigate risks, especially in finance and healthcare sectors.
Opacity/Transparency Issues
AI’s decision-making process can often be a black box, making it difficult to understand how it arrived at certain conclusions.
Integration Potential
AI can be integrated with a variety of sectors and technologies, providing opportunities for synergies and advancements.
Job Displacement
AI can lead to job losses as tasks become automated, leading to social and economic disruptions.
AI can be used to provide personalised experiences in various fields, from education to shopping.
Security Risks
AI systems can be exploited by malicious actors, leading to serious security risks.
Increased Accessibility
AI has the potential to make services more accessible, for instance, for people with disabilities.
Regulatory Challenges
The rapid development of AI technology can outpace the development of regulations, leading to potential legal and ethical issues.
Predictive Capabilities
AI can help in predicting future trends and events, helping to proactively address issues.
Overreliance on AI systems could cause problems if the systems fail or make incorrect decisions.
Scaling Capabilities
AI can be scaled to handle large volumes of work or data, something that would be challenging for humans.
If not properly managed, AI can reinforce existing biases, leading to unfair or discriminatory outcomes.
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  • Lim, W. M., Gunasekara, A., Pallant, J. L., Pallant, J. I., & Pechenkina, E. (2023). Generative AI and the future of education: Ragnarök or reformation? A paradoxical perspective from management educators. The International Journal of Management Education, 21(2), 100790.
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