In spite of its technological infancy, artificial intelligence (AI) has already proved its relevance and profitability. The technology advances as quickly as it attracts attention to itself. But there is nothing worse than the extreme concentration of the unreliable media that obfuscates the reality. Today, AI has overgrown with harmful myths that discourage many business executives from applying it to optimize and improve their business performance.
As an expert in web and app development, Umbrella always keeps up with tech trends in order to create top high-end apps. Check out our blog for more information about AI and other hot technologies. And now, let’s bust some myths about AI.
Myth 1: AI Almighty
That’s the case when overexcited media coverage takes AI out of the context and to a mainly wrong conclusion. In fact, no enterprise really needs an AI of its own accord. The only thing that they really need is the profit. AI-powered solutions are one of the most powerful tools that, in accordance to your specific business needs, could play an important part in your profit-making. Depending on your specific business target, AI could be put into action as a single application or a whole system that is able to make a real difference. Yet don’t be disappointed if it doesn't solve all of your problems at once.
Myth 2: AI = Machine Learning = Deep learning
AI, machine learning and deep learning are buzzwords that are often used as synonyms in the media. That is not only fundamentally wrong, but it also may lead to unrealistic management of expectations: for example, it’s impossible to immediately deploy AI into production just by using one of those commercial Machine Learning services.
Machine learning and deep learning are essential parts of the AI toolkit, just like cutlery for a chief cook. They are smart enough to look really intelligent - but they're certainly not AI.
Myth 3: Everybody Needs a CAIO
There's a high probability that in the future, each enterprise-class business will have their own Chief AI Officer. According to Forbes, 62% of companies are planning to hire a CAIO sometime in the future. But the majority of experts believe that this future won’t be here yet for quite some time.
At this point in time, however, if you’re not going to shift your attention and focus completely on AI, a remote team of AI experts will be more than enough for you.
Traditional ways of doing business inevitably remain in the past and tech companies have to adapt to new conditions very quickly.
Delivering value for digital businesses must be performed by keeping the balance between embracing and overplaying new technology. If implemented properly, AI could become a crucially important tool for your business. Yet, it’s not the panacea.
Only you know what areas of your business could benefit from the ability to augment and improve human decision making by AI technology integration.
Take the media with a grain of salt. Don’t listen to the amateurs, choose the professionals. Choose Umbrella.
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