We’ve heard a lot about the Internet of Things (IoT), artificial intelligence (AI), and robotic automation, but have we been hearing the truth this whole time?
When it comes to artificial intelligence, this new buzzword is focused on making intelligent predictions to help manufacturers. Many assume that because of its capabilities, it’ll be far too expensive to implement, which leads us to myth number 1.
Myth 1: AI isn’t affordable
Just like with any new invention, it’s going to cost something. That doesn’t mean that it’s not affordable, though. AI often requires an investment, but when applied correctly, it can be affordable. Not only that, but AI can come in more practical formats. Before investing in AI, take a look at what you need in order to improve areas of work.
Myth 2: AI is disruptive
Yes, AI will be a change to your strategy, but anything new you add will create change. Many people are worried that if they add AI, then it will alter a process that already exists. Because AI optimizes processes, this is less likely to happen
Myth 3: Results won’t be seen early on
Many are worried that they won’t see a return on investment for years, or even decades, because AI can get costly. But when you look at what it takes to build an AI-model, you’ll find that this is only a myth. Building AI-based models takes months, not years. So, once you decide to apply the model, you will see value start generating immediately.
With AI being used by multiple companies, it’s easy to believe what one person may say about it. Before nixing AI out of your strategy, make sure you look into how it can benefit your business now and in the long-run.