It is challenging to convince decision makers of the importance of AI when they have hesitations rooted in misinformation, so here are the 3 main misconceptions about getting better at AI (and why they’re wrong!):
1. I don’t need data.
97% of businesses are investing in Big Data – so why aren’t you? When it comes to AI, data is everything. There is no way for companies to reap the full benefits of AI when their data is not prepared for an AI project, and decision makers often underestimate the time it takes to do data prep.
2. It’s just like other software.
AI adds intelligence, automates processes, intelligently adapts to situations, and is data-driven. Compare this to other software which, at its simplest, is just a human-computer interface. It takes time to discover, disambiguate, and deploy knowledge.
3. I can just use a third-party service or product.
A third-party service or product could work, but not as well as a custom-built solution. There are many firms out there, ours included, that provide businesses with tailored AI solutions. You need to identify when it is optimal to buy vs. build.
Are you aware of the main applications of AI in your industry? We’re happy to share knowledge if you’re curious. Let’s chat.