Why not use Artificial Intelligence to track end dates, notice periods and other contractual data

Not 100% accurate

AI, or artificial intelligence, is a broad term that refers to the ability of a computer or machine to mimic or simulate intelligent behavior. This can include tasks such as learning, problem-solving, and decision making. While AI has made tremendous strides in recent years and has the potential to greatly improve our lives, it is not 100% accurate which can create giant issues. There are several reasons for this.

Quality Limitations

AI is limited by the quality of the data it is trained on. In order for an AI system to make accurate predictions or decisions, it must be trained on a large and diverse dataset. This dataset must be representative of the real world, and it must be free of biases or errors. However, it is often difficult to obtain such a dataset, and even if it is available, it may not be complete or up-to-date. As a result, the AI system may not be able to generalize well to new situations or may make mistakes due to incomplete or incorrect data.

Algorithms and Models Limitations

AI is limited by the algorithms and models it uses. In order for an AI system to function, it must be built on top of sophisticated algorithms and models that can process and analyze data in order to make predictions or decisions. These algorithms and models are often complex and can be difficult to design and fine-tune. As a result, they may not always be able to accurately capture the nuances and subtleties of a particular problem, which can lead to inaccuracies in the AI system's output.

Computing Power Limitations

AI is limited by the computing power available to it. In order to function, an AI system must be able to process and analyze large amounts of data in real-time. This requires significant computing resources, including powerful processors, large amounts of memory, and fast networking. However, not all AI systems have access to such resources, and this can limit their ability to make accurate predictions or decisions.

Complexity Limitations

AI is limited by the complexity of the tasks it is designed to perform. Some tasks, such as image recognition or natural language processing, are inherently complex and require the AI system to be able to understand and interpret a wide range of inputs. This can be difficult for even the most advanced AI systems, and it can lead to inaccuracies or mistakes.

Risky and potentially ineffective

AI systems are not perfect and will make mistakes. For example, an AI system may misclassify text because it has not seen enough examples of the particular object or concept it is trying to recognize. In some cases, these mistakes can be difficult to detect and will lead to incorrect results.

To understand which interpretation failed, you must check all the AI generated data. That might be a lot of work.

Why not use Artificial Intelligence to track end dates, notice periods and other contractual data?