You must have read so much stuff about Artificial Intelligence (AI) that you feel this is again another write-up proclaiming the same stuff. No, it’s not! There are plenty of misinformation about AI that’s going around and this write-up plans to debunk the myths and talk about facts.
Let’s start with the basics first. It’s a well-known fact that AI has started influencing businesses and stirred a global revolution. No longer does artificial intelligence just codes business logic, it’s now doing more, like making complex tasks simple, effortless, innovative and not to forget removing drudgery and boredom from human lives.
AI is machine intelligence, in simple terms. The machine is fed with data and with the help of this learned data, the machine writes its own working algorithm and helps perform complex system tasks which would have taken longer time for a normal human. With experience and input of more data, the machine can even perform complex tasks effortlessly. The AI concept functions by the combination of data with smart algorithms and iterative processing which enables the software to decipher by analyzing data patterns in an automatic procedure.
However, there are some misconceptions about AI. Let’s debunk the myths and get a reality check.
Myth NO. 1 – AI can deliver immediate results
AI is a great technology, but it’s no magic. The artificial intelligence requires long term planning strategy and logical thinking for doing multiple iterations and delivering results. The path of AI takes time and needs a strategic framework and an iterative approach to deliver accurate AI solutions. Looking for immediate results might fail or might not live up to the expectations because the homework basics need to be completed.
Myth NO. 2 – AI will replace humans
No, it won’t! Management might think that AI would replace humans in future and replace operational costs, but it’s still not proven. The reality is AI and human both need one another to deliver accurate results in less time. Feed the AI with the right data and it would work marvelously. AI can augment people’s capabilities, remove plagiarized work and free the employees of strategic activities. AI, however, cannot provide conclusive results to different problems, but AI can make informed recommendations that can help your human employee to weigh the pros and cons and make an informed decision.
Myth NO. 3 – AI needs huge investment
AI is a scientific and complicated technology. Google, Amazon, Apple are some of the modern tech firms who have invested billions of dollars for implementing AI. Does that mean that AI is for rich businesses? Well, again a no! In reality, there are numerous smart tools that can be utilized for the implementation of artificial intelligence in business procedures. Various organizations are using free versions of automated tools for their businesses, which again proves that AI implementation doesn’t require monetary investments all the time.
Myth NO. 4 – AI Algorithms are expert for data processing
Machine Learning algorithms are one of the main elements in the functioning of a machine. The algorithms are considered to be robust, linked with the human brain and can also work intelligently with unorganized data, but algorithms cannot make decisions without human intervention. The algorithms need to be fed with structured data to get impeccable results.
Artificial Intelligence has impacted almost every business. The automated responses coming from chatbots to biometric fraud detections, AI is everywhere. But the misconceptions about AI needs to be debunked for a better understanding of AI – the blessing of technology. When you understand things better, you would be able to apply the AI tool better to get the best results.
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