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Debunking the Top Artificial Intelligence Myths

Like many other technologies, artificial intelligence has its own share of fears and myths related to its capabilities. As a powerful tool capable of solving a variety of business challenges, it’s only natural for these types of fears to surface.

In our years of work in the AI space, we’ve heard many of these myths ourselves and decided to tackle them head on. Here are some of the top myths surrounding AI and the truths behind them.

AI can do everything

Although there is so much that AI can do, it will never be able to solve problems in the same way that humans can. While bots can mimic human behavior, and perform tasks with greater efficiency and accuracy, they cannot perform any task without human direction. AI is best-suited to optimize and/or automate a business process when it’s solving a problem of efficiency, speed or accuracy and there are specific guidelines for it to follow.

One of the business use cases of AI is to learn highly redundant, repeatable processes. In learning these processes, an AI-based solution can often repeat these processes thousands of times per minute, with absolute precision.

AI requires that experts train the system so that it has the knowledge to perform these domain-specific tasks. In addition to training, the system needs a large dataset and ample information to enable the machine learning processes. Depending on the complexity of the data, this can sometimes be thousands of documents and/or data points.

Bots will take my job

Although it’s true that AI might eliminate the need for some jobs, the overall notion that we’re going to end up on the street because every task imaginable will be automated is entirely false.

In industries that have implemented AI to automate workflow processes, employees are finding themselves tasked with more meaningful work and are more valued and feeling more fulfilled at their jobs than before.

Like other technological advances in history, there are some industries that will be affected more than others. Companies will adapt, as they have for years, and will find innovative ways to become pioneers in their fields using the latest cutting-edge technology for increased productivity.

 Through the implementation of AI technology, employees can feel greater satisfaction at work and employers can easily scale up their processes to meet the increasing needs of a growing market.

AI technology isn’t safe

There are a host of concerns regarding the safety of artificial intelligence – some more legitimate than others.

Gone are the days when people feared that humans will be destroyed by robots, but in the 21st century we have other, very real safety concerns stemming from the advancement of technology.  Data security has become one of the greatest threats to each of us. Nearly every day, it seems that a new business is getting hacked, putting valuable customer data at risk. Yet, most businesses lack the necessary tools needed to truly protect themselves against a data breach.

Because of potential vulnerability, businesses are reluctant to trust AI with documents containing personal information, whether it’s a loan packet, tax return, corporate audit, patient medical record or some other area of their core business processes that can be improved using AI. The reality is that even if the data is shared with a bot, when hosted properly on a secure network, the data is actually more secure.  Using reliable data security methods, such as encryption and data redaction, personal information can be secured and protected, even if the document workflow includes AI and machine learning modules.

Companies looking to invest in AI technology should certainly ask questions regarding data security. But many of the concerns related to how a machine will use that data are often exaggerated or misinformed.

Only programmers can use AI technology

Having a technology expert on-hand is certainly advisable when it comes to implementing an AI solution. However, you don’t need to be an expert software developer to use AI as it becomes more user-friendly to the public.

Though AI systems are complex and require high level expertise to develop, through a user friendly graphic interface, systems are designed to be easy to manipulate.  Even when AI tools require users to have some technical abilities to correctly implement, most software also relies on implementation specialists to optimize the system requirements and ensure that the software will work in the business’s environment.

To recognize the true value that an AI solution can offer, the technology must be paired with industry leaders and thinkers who bring value to the addition of technology to the workflow process.

Only then can the technology truly work to its potential.

 A Primer to Artificial Intelligence in Business

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