Debunking the myths about AI:

Original article was published on Artificial Intelligence on Medium

meaning that the ones having a concise and “applied AI” plan will realize the actual benefits and close the opportunity gap with better and cost-efficient outcomes. Others following “pseudo AI” (fake it ‘till make it folks) will enjoy the ROI (risk of ignoring) of AI.

2. “Bringing data scientists into the team will solve all AI concerns.

This is a common mistake. Companies should not look for decades of experience at any given field of science if the entire organization is new to that field. Culture will eat those kinds of unconcious attempts. First, focus on people, character, and talent. In response, you are right to say that “Speed is important.” but that consideration is due to the fact that you feel FOMO and “speed hunger” as a result of digital disruption. When organizations see the AI show-offs by disruptors, they impatiently consider it as an overnight success/fail.

Once you build the foundation for an appropriate digital culture, you can first elaborate on “leaner-faster-better” AI initiatives.

3. “No budget for a team, no need for AI.

Have you ever heard of virtual data scientists? Or data-science-as-a-service? Today’s world allows us to access any kind of information with almost no cost. The ever-growing mentions for data scientists are due to the information asymmetry among the executives in a company. CXO said “We need data science.”, then HR said “Search the keyword: data science.”

Those people are unaware of the fact that there are scientists who devoted their lives to data science/ML/NLP/AI. So, it is not as simple as a keyword search.

4. “We need to buy AI, not build.

This is simply running-away from AI if there is not any sound basis for “buy” decision. Before your monetization move in the AI journey, you need to come up with a well-grounded decision of “buy vs. build.”

5. “Mentioning AI is an attempt to AI.

Dear advertisers, please be informed that when you mention AI on your ads, you are not bringing any value add, and there is not any scientific significance of doing that. If I were you, I would spend that ad budget for growing a team and trying to build a culture capable of dealing with AI.

So, please be skeptical about whoever telling you to put “AI” phrase anywhere in the ads.