Cutting Through the Hype and Fear of Artificial Intelligence

Artificial intelligence has a PR problem. When discussing AI, people tend to fall into three groups: Those who are convinced that artificial intelligence will solve all of humanity’s problems, those who are sure AI will steal our jobs and make us slaves, and those who have no idea what AI is.

A recent survey found that 43% of Americans and 46% of Brits admitted to having “no idea what AI is all about.” That means we need to stop the inflammatory articles about how robots will make us all unemployed, and baseless warnings that AI will cause the next world war.

Instead, education about what AI is and what it means for businesses and individuals is crucial. Artificial intelligence is about teaching machines to react, work, and understand language the way we do. While the headlines continue to get more dramatic every day, until it’s easy to believe the world will soon be ending due to artificial intelligence technology that hasn’t yet been invented, this is not the case.

It’s likely that many people are interacting with AI every day without being aware of it. If you’ve ever asked Alexa to play a playlist, used Siri to set a reminder, or used Google’s predictive search function, you’ve already used AI.

Facebook is using AI for curated news feeds, photo tagging, and targeted advertising. Apple and Microsoft use it to power digital assistants like Siri and Cortana. And Google has long been dependent on AI for its search engine algorithm.

Despite not being entirely sure what AI is, 81% of those surveyed said they were optimistic about how this technology could potentially make our lives better in the future. And they should be. AI is a massive opportunity for both businesses and individuals.

Artificial Intelligence is Making Businesses More Productive

If you run a business, you may be wondering how AI will help you become more competitive. First, it will help increase productivity by cutting down the amount of time you and your employees spend doing simple administrative tasks like data entry. This frees up time for meaningful work which will allow you to grow your business, create better products, and devote more time to customer service.

For both startups and established businesses, using bots and Ai means less time wasted on routine administrative tasks. That means happier customers. It’s also a cost-effective way to close talent gaps within your organisation.

Gartner has predicted that by 2020, 85% of customer interactions will involve AI. This will cut down on wait times, and eliminate hours of “on-hold” time for customers every year.

The best news? Business owners don’t need to become AI experts to reap those rewards. Instead, consultants can provide tailored information about the best ways to implement AI in your business. There are also many different AI-based tools already on the market, like chatbots and personal assistants. These allow you to dip your toe into the artificially intelligent water.

Just as some of the most recent thought pieces and articles about the risks of AI need some balance, so do some of the experts claiming that AI is the answer to all of our problems.

Yes, AI will lead to job losses. Humans won’t need to do repetitive, boring tasks. But the biggest reason for AI implementation is to support and create meaningful work. Since AI development is still in its infancy, we have plenty of time to adapt, retrain, and accept this technology.

The businesses that flourish will move with the times, using humans and AI together to streamline every aspect of their organisations. Before this happens, people need to understand what AI is, how it can be used, and why it’s so important.

Are you wondering how you can implement AI in your business? We can help you get the competitive edge you’re looking for. Get in touch today.

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