Have you ever imagined the world in the future? Will it be dominated by humanoid robots like a typical scene in a science fiction movie? Will the streets be filled with electric and autonomous cars, which look nothing like they do today? It can not be denied that the technological tsunami has opened a new era for human progress and swept through almost every area of life. Among those, Artificial Intelligence has been becoming a great support for human demands. Whether you are aware of it or not, AI has a significant impact on your life, as well as your business.

Despite its popularity, AI has not been perceived appropriately and understood thoroughly. Popular media, sadly, has created many myths and misunderstandings around the current state and future of artificial intelligence. The truth about AI is far from what we think; therefore, individuals and especially business leaders need to understand it well enough to explore the potential of AI and capitalise on its adaptation.

1. Artificial Intelligence and Machine Learning are the same

In fact, Machine Learning is an important part of AI. While AI means that we can add the capabilities of human to machine, Machine Learning is the learning in which machine can learn by its own without being explicitly programmed. Therefore, machine learning is one of several approaches to creating AI in algorithms and in the applications that use them.

2. AI will wipe out human jobs and opportunities

The development of artificial intelligence is accompanied by human fear: we afraid that one day, robots will replace human roles. In fact, event before the advancement of AI, any progress in technology can eliminate obsolete jobs. That means AI can support human with simple tasks and streamline production process, so that we can take over the jobs that need sophisticated skills. AI and machine learning both eliminated outdated jobs but also created better jobs for human.

3. You need an expert and a huge capital to use AI for your business

Due to the fact that more money than ever is being poured into artificial intelligence, leader of small business believe that investment on AI will cost them a huge amount of money and data. However, even small startups can apply AI in their business in today world, because many tools are increasingly available to business users and do not require huge size of investment.  Most companies will choose to make use of business applications developed by large corporations such as Google, Apple, Amazon, Facebook.

 

Although there are many rumours about AI and its influence, it is still a very potential field that have not been fully explored. Many challenges certainly lie ahead - but the progress is on its way in the upcoming years. AI and its applications will not limit with language recognition, smart researches, data analyse, etc. Greater inventions will be born very soon to support human life and change our future. No one can predict what will happen next, but we all believe that with human intelligence and creativity, nothing is impossible.

Reference: Forbes Magazine

AI in business: The truth behind deadly missunderstandings

Gabby Nguyen | 2min read

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