Artificial Intelligence: A Comprehensive Review of Its Potential and Perils

Abstract

Artificial Intelligence (AI) has become a trans formative force across multiple industries, influencing decision-making, efficiency, and user experiences. The purpose of study is to study the prospects and challenges of AI across different industry segments. AI is a fascinating and rapidly evolving field. It is a powerful tool to deepen knowledge across several areas such as programming, data structures, machine learning etc. The study intends to study AI’s role in healthcare, finance, manufacturing, human resource management, automation of jobs, healthcare innovations to understand the advantages of AI and its effects. The present study is a qualitative research that uses secondary data sources. It is proposed to include a variety of historical advancements, ranging from early symbolic reasoning to modern deep learning and reinforcement learning etc are analyzed using NVIVO-12 software, in which the output is generated in form of word clouds are generated depicting the discussion about the recent advancements of artificial intelligence across various industry segments. The paper concludes the necessity of ethical AI development and interdisciplinary collaboration to maximize AI’s benefits while mitigating risks. Ethical, legal and regulatory considerations, including bias, privacy, and accountability, are discussed, along with AI’s broader societal implications. AI has enormous and revolutionary potential for the future, with promises of improvements in a number of industries, including healthcare, banking, finance, entertainment, and media but also with ethical and job displacement issues.

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