Debunking 5 Myths About Artificial Intelligence for Businesses

Artificial intelligence (AI) is here, and it’s already proving itself in the market. Businesses have adopted AI-powered tools that leverage this cutting-edge cognitive technology, giving their decision-making processes a massive upgrade while managing mundane jobs by automating them.

But with the rise of AI, there exists confusion and doubts about its capabilities, with many people associating them with science fiction dystopias. In this post, we’ll discuss several myths about AI and the truth about them, debunking the factual inaccuracies surrounding the subject.

AI Myths Debunked: 5 Factual Inaccuracies and The Truth About Them

Myth #1: AI will replace humans

Perhaps the most popular myth about AI is that it might soon replace humans. A precision-driven machine that doesn’t require personal touch is undoubtedly an eye-catching alternative for organizations, right? Well, not exactly true.

Experts have noted that instead of replacing humans, AI might even complement them. In fact, according to a study reported by fortune.com, AI is seen to employ 10,000 people for automation jobs. AI requires execution, constant enhancement, and quality assurance measures that can only be possible with the intervention of good old-fashioned human workers.

Myth #2: AI projects require huge investments

Many perceive that AI technology is highly scientific and complicated, thus requiring a billion-dollar investment. Folks imagine self-driving vehicles, humanoid robots, and autonomous drones.

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While these may require huge budgets to be developed only by the biggest tech companies that can afford them (such as Google, Amazon, and Apple), there are various smart tools for small businesses to use in enhancing their processes. Some examples include intelligent personal assistants, chatbots, fraud detection systems, and purchase forecasts, among others.

Myth #3: AI algorithms can process any data flawlessly

One common concern about AI is that with the help of machine learning (a data analysis method that improves algorithms automatically), AI bots will be able to constantly enhance their level of comprehension without human aid. Is this a valid concern? Not exactly.

AI models do not operate under a “set it and forget it” functionality. A robot can become a rogue liability if it’s not guided by someone who can guarantee that a certain level of quality is maintained. Hence, human intervention is still needed for the algorithms to continuously function, as they don’t have the magic power to customize data and produce tailored results.

While automation is the name of the game with AI, its integration should be managed, measured, and re-configured – tasks that can only be performed by humans.

Myth #4: AI will conquer humanity

People imagine a hypothetical scenario of an AI takeover in which robots and computers control the planet and dominate Earth. Again, bots cannot fully and continuously operate without human direction. They’re programmed to execute tasks, but they cannot “self-develop.”

Experts predict that AI will soon be integrated into every aspect of life but emphasize that the technology can only do so much, complementing human work to produce new efficiencies.

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Myth #5: AI can imitate human emotions

One advantage that we, humans, have always had over technology is our ability to emotionally interact with others. But with the advent of machine learning, worry has intensified that AI-enabled bots will eventually be able to replicate human emotions.

While robots may be able to mimic human emotions, they cannot truly replicate the experience without feeling the emotions themselves. And even if they can “have emotions,” there are associated risks. For example, one study stated by theconversation.com found that emotional analysis technology assigns more negative emotions to people of particular ethnicities than others.

Empathy is defined as “the ability to understand and share the feelings of another.” This requires a human connection. Robots may be able to create the illusion of “empathy,” but fortunately or unfortunately, they will never be able to fully empathize as humans do. They do not have feelings, and it is these emotions that can convert a conversation into a customer experience success story.

Artificial Intelligence Needs Human Intervention to Work

The myths about AI may stem from the fact that it is rapidly evolving, quickly dominating almost every industry – from transportation and manufacturing to electronics and aerospace engineering. But AI isn’t simply a plug-and-play technology – it will always need human intervention to keep running smoothly. And when properly implemented by businesses, it can cut costs while boosting productivity and efficiency, ultimately driving success.

Author: Alan Shapiro

Author Bio:  M. Alan Shapiro is the CEO of Executive Boutique Call Center, an offshore call center and BPO services provider. Since 2008, he has been helping his clients’ companies grow by providing them with high quality and reliable outsourcing services from their two offices in Cebu, Philippines. He spends his free time snowboarding, skiing, mountain biking and gardening.

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