Having been a tech marketer for a number of years, I have seen members of my profession cash in on all of the trends. When “big data” was the it term, every company was trying to angle themselves as a big data company, for example. Over the past couple of years now, the hottest trend has been Artificial Intelligence. It’s easy to get swept up in the flashiness of AI – no one can contest that the idea of sentient robots isn’t supremely cool (and a bit terrifying), or that saving countless resources by automating certain processes isn’t wildly beneficial.
While it is fine to get a bit caught up in the hype, you will want to make sure you are knowledgeable about the topic and can weed out the over-hyped promises some companies are making. Below are three common myths about AI to be aware of as you follow the trend:
- AI is the same as machine learning – Be wary of anyone who is using these terms interchangeably. AI is, simply put, a machine that is able to solve a problem intelligently. For example, a computer can be taught every potential move in a chess game and then apply that knowledge to every game it plays, all but guaranteeing a win. Machine learning is the practice of using algorithms to parse through data to make a prediction or determination of sorts. For example, determining if a person has a high likelihood of re-admittance into a hospital is a machine learning use case.
- AI will steal jobs – While there are certain jobs that can, and are, being automated, humans are still very much needed in the workforce and will remain needed. Most AI applications still require a human-in-the-loop, or someone overseeing and double checking the processes. The kinds of jobs that are available may change or become more technical, but it is doubtful that there will be a huge increase in net job loss in the near-term.
- Big Tech reigns supreme – The most vocal and publicized opinions surrounding AI are often from the big 5 – Google, Apple, Facebook, Amazon, and Microsoft. In today’s open source environment, however, it’s often smaller organizations leading the innovation. Because everyone has access to the necessary algorithms, it is the data sets that reigns supreme, so keep an eye on the companies with the highest quality data sets.
AI solutions are changing the way companies do business. Taking the time to understand the technologies and finding an approach that works best for your organization is key to achieving success. To learn more about how 10Pearls can help you integrate AI into your digital strategy, click here.