The course of history has shown that technological change is inevitably accompanied by great predictions, both on how new technologies improve our lives and ways of working, as on how it leads to the loss of habits.
However, the course of history has also shown that the truth about new technologies is generally somewhere between the savior of humanity and the fall of humanity. With this in mind, today we are analyzing some of the most common myths surrounding the next big technological frontier: artificial intelligence.
Myth # 1: AI can replace human interaction
There are a lot of things AI can do to help increase your company’s customer service options, but the keyword here is just “increase.” Currently, AI cannot, and cannot (at least in the near future) replace essential human touchpoints between the brand and the consumer.
Using AI to completely replace human-based customer service risks alienating large segments of your audience. While some survey data suggests that some consumer groups prefer AI-based customer service tools over the older method of phoning a business representative, there are issues and demands complexes that will likely always require human contact. That’s why artificial intelligence should complement, not replace, customer service with a human face.
Myth # 2: AI can solve all my data problems
Yes, AI is incredibly powerful when used wisely, but that doesn’t mean it can solve every data problem in your business. AI is not a magic wand that can do away with existing data problems. Many companies, for example, may not have sufficient historical data to feed machine learning. Additionally, AI systems need to be powered with the right kind of data. In other words, the data that provides the answers to any question that we ask the AI to answer on our behalf.
Do not think that AI can be effective if it is not powered by quality data. Invest in data collection techniques first, then in AI systems to process the data collected.
Myth # 3: AI doesn’t affect my industry
It is easy to consider technology as advanced as AI and to assume that it does not affect more traditional business models. But ignoring AI, or not appreciating its impact on all industries, can, in the long run, put your business at risk.
It is essential to consider the potential implications of AI on your industry. Are there areas that could be disrupted by AI technology? Are there ways for your competitors to start deploying AI that could give them an edge? These are questions you should ask yourself before dismissing AI as not having a significant impact on your industry or industry.
Myth # 4: I can’t afford to integrate AI into my business
Many companies who understand the changing nature of AI technology are still reluctant to implement it because they think it is too expensive. While it is true that some large-scale AI deployments can only be properly executed at great cost, this does not mean that there is no way to integrate AI into operations strategically without break the bank.
Some AI implementations are less expensive than others, but can still generate a good return on investment. This is particularly the case in the digital marketing sector, when it comes to deploying automated Analytics or advertising strategies, or aimed at increasing the organic visibility of your business. Process automation, for example, is at the lower end of the investment spectrum, but can go a long way in improving operational efficiency.
Myth # 5: Your business has unique needs
It is tempting to believe that your business needs are unique. But think about it: How many of these needs are in fact common to your industry? The real trick to getting added value from AI is to deploy it throughout your business. Smart enterprises realize that it is more efficient to focus the efforts of their data teams on creating value through differentiation while deploying ready-to-use AI solutions for the most common business problems.
Myth # 6: AI will give magic results immediately
AI is not magic! The path to AI success is difficult and time consuming, not just because of technology. You also need a strategic framework and an iterative approach to avoid providing a random set of disconnected AI solutions.
Myth # 7: AI can work on its own
Artificial intelligence and people need each other. No, the robots will not take over. AI is at its maximum when it increases people’s abilities. It can eliminate tedious work, freeing up people for more strategic activities. This has the added benefit of making people more motivated, more productive and more loyal.
Corporate AI also relies on the people who provide the right data and work with it in the right way. Often, AI does not provide conclusive answers to problems, but rather very informed recommendations that a human being can weigh to make the final decision.
A recent study showed that 64% of people trust a robot more than their manager. But even when we want autonomous AI decision-making, there will still be circumstances where a recommendation falls below an acceptable level of confidence, so the solution will direct the decision to someone so that she makes a decision.
Myth # 8: The more data, the better
Businesses need smart data. This myth is omnipresent. Of course, as explained above, data is the fuel of any AI solution. Most importantly, the data must be of high quality, relevant, up to date and enriched. Unified enterprise data models are a good place to start because they guarantee the integrity of your data, but not its quality. And data lakes are essential, but they don’t solve integrity or quality alone. In short, you need intelligent, high-quality, comprehensive and up-to-date data.
Myth # 9: AI can imitate human emotion
One of the advantages that humans have always had over innovative and intelligent solutions is their ability to deliver emotionally integrated communications. With modern AI, many people have started to argue that robots equipped with AI will be able to imitate human emotions sooner or later. Whatever the evolution of intelligent automated machines, it is possible that they may outperform or amount to authentic social conversations.
If computerized robots can be able to reproduce human emotions, it is impossible (for them) to imitate the experience and experience the feelings that flow from it.
The explanation for empathy is the ability to understand the feelings of others, and it requires authentic human experience. There is no doubt that AI robots are capable of bringing the illusion of compassion, but they cannot sympathize with humans. Yes, the truth is that they have no feelings.
Myth # 10: AI will conquer humanity
Many people often see the prospect of AI as a dark time when Terminators and robots bind people and tear down the globe. Do not worry, the reality is not so bleak.
AI will not take control of the globe or humanity since it cannot function without human direction. Machines are incapable of imagining things similar to people and they will hardly be taught to do so. In fact, computers are going to have an optimistic impact on the world by supporting people in many areas, creating business models, communities and innovative skills.
While it’s nice to be dogmatic about how to end an AI disaster, there are still a lot of misconceptions about AI that could work against the use of this technology, which is l most advanced innovation that humanity has known for centuries.
AI is not a ready-made answer to the complexities of quality assurance and employees. Rather, it is a constantly evolving aid. Technology can be used to improve and help people who work hard and are forced to deliver measurable results. Likewise, when implemented according to the rules, it can reduce organizations’ expenses and save them time and trouble.
It is the human instinct to be wary of change, and few technological changes have caused greater general distrust than the rise of artificial intelligence.