[Infographic] Debunking 8 Myths About AI in the Workplace

[Infographic] Debunking 8 Myths About AI in the Workplace

7 August 2018

The potential impact of artificial intelligence (AI) in the workplace is one of the most debated topics in the media. Although there is no doubt AI will help reshape the workplace, the recent attention on the subject has led to many common misconceptions about the technology and its effects.

This infographic published by Visual Capitalist focuses on debunking various myths about AI in the workplace.


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Courtesy of:
Visual Capitalist

 

Here are the eight debunked myths about AI:

1. Automation will completely displace employees

Truth: 70% of employers see AI in supporting humans in completing business processes. Meanwhile, only 11% of employers believe that automation will take over the work found in jobs and business processes to a “great extent”.

2. Companies are primarily interested in cutting costs with AI

Truth: 84% of employers see AI as obtaining or sustaining a competitive advantage, and 75% see AI as a way to enter into new business areas. 63% see pressure to reduce costs as a reason to use AI.

3. AI, machine learning, and deep learning are the same thing
Truth: AI is a broader term, while machine learning is a subset of AI that enables “intelligence” by using training algorithms and data. Deep learning is an even narrower subset of machine learning inspired by the interconnected neurons of the brain.

4. Automation will eradicate more jobs than it creates

Truth: At least according to one recent study by Gartner, there will be 1.8 million jobs lost to AI by 2020 and 2.3 million jobs created. How this shakes out in the longer term is much more debatable.

5. Robots and AI are the same thing

Truth: Even though there is a tendency to link AI and robots, most AI actually works in the background and is unseen (think Amazon product recommendations). Robots, meanwhile, can be “dumb” and just automate simple physical processes.

6. AI won’t affect my industry

Truth: AI is expected to have a significant impact on almost every industry in the next five years.

7. Companies implementing AI don’t care about workers

Truth: 65% of companies pursuing AI are also investing in the reskilling of current employees.

8. High productivity equals higher profits and less employment

Truth: AI and automation will increase productivity, but this could also translate to lower prices, higher wages, higher demand, and employment growth.

 

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