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We can all agree that the use of AI in business is at its infancy and may be long until it becomes widespread. Businesses of all sizes may find it easier than thought to run early AI experiments to clear their vision on how to accelerate their competitiveness.
However, several myths will be on the way and need to be reflected upon. Let’s dive into the most common ones.1. My business isn’t sophisticated enough to require AI
AI is humanity’s attempt to simulate our brain’s intuition and put it on the fast track to experience and interpret the world for us. In the early 90s, the development of very narrow applications using AI concepts gave birth to what we now call machine learning (ML). Think of a computer playing checkers or an e-mail spam filter. Deep learning (DL) is making a comeback from its debut in the early 50s. Think of a computer telling you what is in an image or video or translating languages.
In summary, we say that DL is a subset of ML which is a subset of the broad field we call AI. Your business can and eventually will use AI. The reflection about which approach to use will depend on the problem to be solved and the data available.
2. AI is a magic box, just throw another problem at it
While there is something magical about predicting an outcome from an input that the computer never saw, the magic ends there. If you try to use machine learning without minimally understanding the problem you want to solve, you will fail miserably.
It’s very important to think of your AI strategy as a portfolio of approaches to solving very hard problems you can’t solve with traditional programming. Each problem may require completely different datasets and approaches to achieve meaningful results.3. Only the big companies have enough data
While it’s true that whoever has the data will have an advantage in solving certain problems, no business should be trapped in the analysis paralysis around the question “do I have enough data?” Maybe you don’t, but that doesn’t mean you shouldn’t try to attack a business problem using AI. There are some scenarios to keep in mind:
- Sometimes…
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