Do People Really Know What AI Is?
With many blockbuster films using artificial intelligence (AI) in their central plots, one might think they already understand the basics of AI and its applications in the modern world. With the possibility of intelligent and self-learning machines taking over human jobs and running the globe, it is quite easy to cast AI as the villain. However, the truth is much more complicated than fiction.
So, before you turn up your nose from trying AI as a viable business solution, here are some of the things you should know.
How many people fully understand what AI is all about?
Largely thanks to classic cult hits like The Terminator and Bladerunner, a 2016 survey shows that approximately 34% of the population exhibit an irrational fear towards AI while 24% think that AI will do more harm than good in society.
Even with the increasing number of people using AI assistants like Siri and Alexa, only 35% of consumers are entirely comfortable in using the technology while 28% still prefer the human touch. In fact, majority of respondents in a global consumer study cited “the rise of the robots and enslavement of humanity” as one of the main reasons why they are not comfortable in using AI.
Regardless of these numbers, 72% of respondents still felt that they understood the basics of artificial intelligence. In truth, though, only a handful truly understands how AI technology works. This is highly frustrating, considering that data is available at the tip of all global internet users’ fingertips. A recent snap survey estimated that 90% of companies that ‘boast’ on having AI driven processes and platforms, don’t actually have AI at all but instead just clever data processing.
Rise of the Machines: Is there any reason to be worried?
The problem with how Hollywood portrays AI technology is that they work on the assumption that it continuously ‘learns’ things without proper prompting. This is only one part of AI but the majority of AI driven systems still require human input.
Contrary to popular belief, artificial intelligence is highly dependent on the learning algorithms that are entered as inputs in the system. A crude example is when you ask an AI assistant to answer a simple mathematical equation such as 1 + 1. If the set algorithm is right, it should correctly answer 2. However, if there are flaws in the system, it might have a different (and consequently, wrong) answer.
Of course, AI learning systems have significantly evolved in the past decade–from object and speech recognition to language translation and image creation. Nevertheless, constant development in AI reasoning systems must be conducted. This is because a single learning algorithm that has solved one problem will not necessarily solve another problem. Developing a simple learning algorithm still requires a team of professionals and experts at its helm. In addition, it will take years before an AI system can fully perform a function without any hitch.
For this reason, the ‘rise of the machines’ or more commonly known ‘AI singularity’ is an unlikely scenario in the near future and certainly not within our lifetime.
Benefits of using AI technology to improve your business
Perhaps, one of the more surprising applications of AI technology is in human resources (HR). You might think this is highly inappropriate, seeing that there’s the word ‘human’ right before ‘resources,’ but HR is actually the perfect place to try AI.
For one, the technology can reduce the time spent on recruitment, which deals with repetitive tasks, such as scheduling/cancelling candidate interviews and allowing automated screening and assessments through voicebots and chatbots. Subsequently, this helps hiring managers focus on more relationship building with the clients and candidates. In turn, this creates highly consistent assessment procedures, thus, reducing the operating costs.
Furthermore, AI technology helps with the employee’s performance appraisal and in mapping out their possible career advancement opportunities. Of course, this serves as a powerful incentive for both the staff and the management team to do their jobs well.
Want to learn more about AI technology and its benefits?
At Recii, we offer personalised AI solutions for your recruitment processes. Still not convinced? You can also try our in-person demo. Contact us today!