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The hype surrounding AI has created various myths about its potential to transform society. Some believe it will take over the world, while others think it is nothing more than a buzzword.

AI is not only being used to replace mundane jobs; it is also being used to create new business opportunities. IT leaders must create value by developing practical applications of the technology that can help them improve their operations and reduce costs.

Here are some of the most popular myths surrounding Artificial intelligence – and why they’re wrong.

Myth: AI and Machine Learning are the Same Thing

Machine learning is a subset of AI that requires a well-thought-out strategy for acquiring and training data. On the other hand, AI is a broad term that refers to various techniques such as natural language processing and rule-based systems.

Myth: It’ll Take All Our Jobs

One of the most popular AI theories is that it will replace human labor with cheap and advanced technology. This theory claims that AI will be so advanced that it will be able to perform the same job roles as humans without requiring a lot of training or experience.

AI can be used to augment existing jobs, but it can also replace low-level positions. Workers will have to be upskilled to take advantage of the technology.

Myth: AIs Can Only Lead to Death and Destruction

You can thank pop culture for this myth (looking at you, Matrix). It’s unlikely that anyone would build or deploy an autonomous machine that could intentionally harm or turn against its human creators.

Despite the various technological advancements that have occurred in the field of security and drones, such as the development of security robots that can neutralize threats, they have not yet been deployed.

Robots are also widely believed to develop self-preservation instincts and interpret commands to protect and preserve humans.

Myth: AI Isn’t for Everyone

AI can help companies improve their internal operations and enhance their external processes by allowing them to create new products and improve their sales. According to one study, 86% of participants stated that AI is becoming a standard technology within their organization. All companies should thoroughly implement and use AI business use cases to avoid falling behind.