It is challenging to convince decision makers of the importance of AI when they have hesitations rooted in misinformation. Here are the 3 main misconceptions about getting started with AI (and why they’re wrong!):
1. We can wait on AI – I don’t need it.
“Software is eating the world, but AI is going to eat software.” (NVIDIA)
AI impacts everyone and will be in all software in the near future. The longer you wait on AI, you are disproportionately behind. Those who are late to the party may never catch up. Start preparing for AI now.
2. I don’t need to prepare for AI. It’s quick and easy.
AI projects typically take anywhere from three to 36 months. Decision makers often underestimate the time it takes to prepare their data for an AI project. AI is not like other software – it requires a different dataset, skillset, and mindset.
3. AI is too expensive and is only for big companies.
AI is on track to be in all businesses soon. (In this interview with Ask AI, our Founder/CEO, Monish, talks about why.) All companies should be able to benefit from AI in order to remain competitive. There are many artificial intelligence companies out there, ours included, that believe in the democratization of AI and provide custom-built solutions for companies of all kinds.
4. My existing teams can do it.
They can, but most teams fail because AI is very different from most software. Industries across the globe are realizing they need to adopt AI, and if you still think your existing teams can do it, you’re going to be left behind.
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.