May 28, 2024

Demystifying 5 biggest myths of AI


When anything comes over Artificial Intelligence (AI), a lot over all assumptions get into the main picture. Then whether its regarding the sci-fi portrayal it receives in TV & film, or the public’s general fear of the unknown. The truth is, there really isn’t much to fear in the least, and it’s important that organisations understand how helpful AI can really be in achieving business objectives.

1. AI is simply for a huge complex problem: –

In simple terms, AI refers to situations where computers perform work that might have in past been done by actual people. This is often something that doesn’t sit well with some, with many fearing that AI goes to negatively impact the planet we live in.

But if one looks beyond the hype and rumours, the reality is that AI isn’t here to make robots and takeover the human race!

The majority of the roles administered by AI are actually pretty simple ones – for instance, following an expert-defined set of rules to make a decision whether or to not approve a Mastercard application.

Once in situation, basic procedures like these offers numerous benefits and make an excellent start line for moving onto more complex AI problems and solutions.

2. AI drives and doesn’t overpower people’s jobs: –

If anything, intelligent automation actually frees up employees to try too much more value-adding work – that specialize in tasks AI can’t perform, which frequently have a better level of complexity and importance related to them.

It’s true that AI software is meant to duplicate human intelligence, so there’s an opportunity that it’ll replace humans within the completion of some business activities. To some extent, this has already been happening for a few times in certain business sectors, particularly manufacturing.

The reality is that the majority jobs will only be partially impacted, with only certain aspects of a task being replaced with automation. The tasks being automated are likely to be people who are transactional, repeatable, predictable and high volume. However, most jobs involve some aspect of subjective reasoning, so it’s unlikely that AI can replace that bit.

3. AI may be a recorder: –

AI can encounter as a touch of a ‘black box’. By that we mean it can perform tasks with none explanation or human understanding of how it’s requirements to that time.

AI systems search for patterns in data by following a group of rules given thereto by the top user. This process often involves complex intricacies that might be far too difficult for people to know or replicate. If the AI platform in question doesn’t provide explanations for its decisions, then it’s impossible to understand whether the proper result has been achieved.

Instead, AI solutions are often inbuilt how that permits them to be interrogated for total transparency. Tools are often wont to analyse datasets and identify every indicator used, and subsequently modify the principles to follow the specified direction of the client more closely. this suggests that there’s scope for humans to influence AI practices, and that we don’t need to blindly trust robots to try to to all the work.

The logic behind every automated decision also can be captured in data form, for audit and reporting purposes.

4. AI can be managed only if there is a lot data: –

To some extent, data is vital to AI implementation. Data is required so as for AI systems to be ready to spot patterns and train algorithms which will subsequently be used as a part of business processes, insights and decisions.

However, it’s important to recollect that tons of this ‘learning’ has already been conducted by big AI companies like AWS, Google and Microsoft, using their own vast banks of knowledge. This includes things like image recognition, fraud detection and document analysis, which may feed AI platforms that are employed by numerous client organisations, saving them the effort and expense of gathering data themselves.

This just shows that there are other options available to businesses with a perceived lack of knowledge, and that they should never rule out implementing AI systems on this basis.

5. AI requires skills most business don’t have

In the past it had been always likely that there would be a requirement for data scientists, technology developers and AI specialists to be involved so as to require advantage of AI.

However, with the arrival of low-code platforms, cloud-based AI services and ready-to-go business solutions, this is often not the case. AI has become much more accessible to businesses, and because of the event of intuitive AI tools, little or no training is now required to start out using intelligent automation platforms successfully.

As far as businesses are concerned, it’s important to not get too concerned about the complex inner workings of AI and instead stay focused on the results the technology is able to do. By having a touch bit more trust in data and automation methods, there’s significant reward to be had in terms of efficiency, accuracy and work capacity.



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