Three things business owners need to know about artificial intelligence

AI technology is finally catching up with science fiction, though it still has some work to do. As artificial intelligence technology continues to improve, fear of AI grows as well. It doesn’t help that some of the greatest minds like Elon Musk and Stephen Hawking have voiced concerns about artificial intelligence. Fears about AI aren’t just about super machines that take over the world. There’s also the concern that it can displace a lot of jobs. One thing is certain, it will have some profound effects in the business world so business owners need to be savvy about AI as it becomes more mainstream. Here are three things every business owner should know when it comes to artificial intelligence.

AI is already here

If you’re still looking to the future for AI to arrive, it could be that Hollywood has distorted what AI is for you. It’s true that you can’t go out and buy a C-3PO yet, but that doesn’t mean AI doesn’t already exist. In fact, it’s already all around us. Though computers still can’t pass the famous Turing test (a test that demonstrates that a machine can pass for a human in conversation) they can already do many things better than humans can.

AI will disrupt the work force, but it isn’t all bad

As has already happened in the industrial and digital revolutions, the AI revolution will displace some jobs, particularly those in certain industries. But also as has happened with the industrial and digital revolutions, the AI revolution will create many more jobs more than it displaces and it will be better overall for the job market in the long run.

The right questions

The businesses that will fare best through the AI revolution are the ones led by savvy owners and leaders who ask the right questions. Business owners should be thinking now about the best technology to adopt to stay competitive as the business world is turned upside down.

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