3 Popular Myths About AI in Business

AI myths debunked

In all industries, businesses are starting to realise the potential AI (artificial intelligence) can bring; strengthening decision-making whilst automating complex and time-consuming tasks.

Through the power of AI, businesses can help to streamline their operations, increasing efficiency and overall productivity.

There is now an increasing adoption of this tech in a range of different industries, covering sectors such as healthcare, finance, marketing and more. Through this incorporation of AI, industries have seen major shifts in how they run.

Whilst the true potential of AI is now being recognised by businesses from all different sectors, many myths have floated around causing scepticism and unnecessary fear over this transformative technology.

If AI is to reach its true potential in businesses across all industries, it’s important to explore, and further debunk, these common misconceptions.

Myth 1 – AI will steal our jobs

Perhaps one of the most well-known fears surrounding AI – the idea that it will take over jobs and render people useless in the working world.

Whilst yes, AI could potentially be used to take over some of the more complex, laborious tasks, improving accuracy and efficiency, it does not negate the human working professional.

Many businesses adopt AI technology not to replace but rather to support it’s members of staff, automating the more tedious, time-consuming work and freeing up the employees’ time to be spent on other productive tasks.

By handing the more complicated and repetitive tasks over to AI tools, this also enables members of staff to focus more on human-exclusive tasks involving creation and sophisticated decision making.

Myth 2 – AI is hard for businesses to integrate

Given how complex AI technology can be, it’s understandable why businesses feel it would be difficult to implement such technology into their workforce. However, as many AI tools are designed to help ease a business’s burden and streamline operations, integrating these tools is actually much simpler than many fear.

Many of the AI companies and tools out there have been designed with user experience in mind, meaning they are often easy for businesses to integrate using APIs and can be effortless for employees to operate.

In addition to this, the companies providing these AI tools often have customer service departments, providing businesses with expert advice on any related issues.

There are a number of AI companies that specialise in building AI models and implementation including Optalitix, Phrasee and Relative Insights.

Myth 3 – Businesses don’t need AI

This is perhaps one of the biggest myths currently circulating around industries today, limiting businesses from unlocking their true potential.

AI technology is increasingly becoming a part of daily life, especially in the business sector, boosting its productivity and furthering its growth and success.

Companies everywhere are using AI to gain a competitive advantage, helping their business to work smarter and faster than those around them.

Recent reports have shown that an overwhelming amount of companies are investing in AI tools to further the success of their business, one from PwC showing that 72% of decision makers in business felt that AI helps to provide a competitive edge.

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