“Is AI a blessing or threat?” Many people have been discussing the same question for the last few years.
Everyone has a mixed reaction regarding it. Some techno-geeks who use AI in their daily lives, talk positively regarding it. Some common people who don’t use AI always have concerns about AI.
However, one very specific branch of AI named, Extractive AI, deserves a closer look. The applications of Extractive AI prove to be more of a blessing than a threat for humanity.
Extractive AI focuses on understanding and extracting meaning from existing data like text, audio, and video. It uses technology like natural language processing (NLP) to identify and extract relevant words, sentences or passages. Extractive AI analyzes and summarizes existing information to reduce manual efforts.
This ability makes Extractive AI, a powerful tool for various sectors, leading to advancements that benefit everyday life.
Let’s understand where Extractive AI helps humans to reduce their manual efforts.
How Extractive AI is Helping Humans?
Do Research with Extractive AI
Imagine you want to do research around some specific topic within a library containing many relevant books.
Extractive AI can help you in:
Scanning all the books in minutes
Extracting relevant information out of the data provided by you
When you want to do research from your specified data source, then extractive AI is a perfect solution.
Example 1: Legal research platforms utilize Extractive AI to uncover relevant precedents and legal arguments for their study.
Example 2: Journalists can use Extractive AI to verify facts, identify potential biases, and cross-reference information from multiple news articles.
Example 3: Government organizations can use Extractive AI to analyze social media posts, survey forms and other data to understand public opinion on new policy.
Basically Extractive AI can be helpful to any individual, government organization, and any business.
Automate Repetitive Tasks with Extractive AI
Mostly all the repetitive tasks in any organization are boring and error-prone. Apart from this, it drains human energy and reduces their productivity.
To decrease manual efforts in repetitive tasks, extractive AI emerges as a powerful tool. Let’s understand with some examples.
Example 1: Imagine accounts payable team working on 100s of invoices per day. Their data entry work can be automated easily with extractive AI. Extractive AI or document processing AI tools like KlearStack can help in extracting data from key data fields like, invoice number, names, dates, amount, etc and integrating it in any specific tool.
It can help you to reduce manual efforts by up to 500% and cost reduction up to 80%.
Example 2: Imagine a customer service team drowning in repetitive tasks like, responding to emails, tickets, etc.
Extractive AI can help them:
Answering frequent inquiries on the basis of previous data
Analyze customer sentiments and improve service quality
Generating summaries of the calls by extracting information from call recordings
Multilingual Analysis with Extractive AI
The power of extractive AI lies in extracting data from a given data source and analyzing it for the betterment of humans. Extractive AI can help in multilingualism.
Check some features:
Translation of text
Analyze foreign language articles
Fact checking across languages
More specifically, multilingual analysis can help journalists in:
Detecting hidden stories by analyzing a large set of news and stories in minutes,
Transcribing interviews,
Summarizing speeches,
Extracting quotes & important information from videos and other data sources
Data Reporting and Analysis with Extractive AI
Humans spend quality time diving deep in complex datasets, transforming raw numbers into actionable reports. Rather than this, humans should invest time in analyzing the collected data and strategizing for better implementation.
This is where extractive AI is your secret weapon. It boosts your data accuracy, reduces your manual efforts in tedious tasks and eventually cost reduction.
Let’s understand with example, how extractive AI can help in data reporting and analysis.
Example 1: Healthcare industry uses extractive AI to analyze medical records, imaging data and research papers to diagnose any disease
Example 2: Finance industry uses extractive AI to analyze market trends, financial reports and social media data to make a safe and secure decision.
Addressing Global Challenges with Extractive AI
In this ever-changing time, the world faces complex challenges like climate change, epidemic, poverty, and resource scarcity. Extractive AI can be a valuable tool in addressing these issues.
For instance, it can analyze climate data to predict weather patterns, extreme events, and optimize resource allocation. It will give us better information about hotspots and climate change impacts to take necessary steps. For better sustainability, extractive AI analyzes data on various Sustainable Development Goals (SDGs) to monitor progress and identify areas for improvement.
Partnering between Human & Extractive AI
It's important to remember that Extractive AI is not a replacement for human intelligence. Its strength lies in its ability to process massive amounts of data efficiently and objectively. However, the final analysis, decision-making, and ethical considerations must remain in human hands.
The main purpose of humans to use extractive AI should be to increase efficiency and productivity, decrease repetitive and tedious efforts, and reduce cost.
The one who will use extractive AI will get better output in terms of research, data collection, analysis and predictions.
Therefore, the future lies in a collaborative partnership between humans and Extractive AI. Humans provide creative thinking, critical reasoning, and ethical grounding, while AI amplifies our capabilities, accelerates progress, and unlocks new possibilities.
So Extractive AI is a BLESSING and not a threat.
