Myth 1: AI Can learn for itself
Artificial Intelligence (AI) is capable of learning through machine learning. Deep learning goes one step further by employing a complex network of neural networks to gather data and grow.
Conversational AI employs machine learning to become more adept at comprehending customer inquiries and locating pertinent solutions. But it doesn't come up with fresh solutions or even comprehend what it's saying.
AI needs to be told what to do and what to say to customers. It won't take over a website or alter the interactions. Nothing instructed will be overridden. AI created by DeepMind as an example, which in 2016 defeated Lee Sedol, the top Go player in the world. DeepMind created an AI that can teach itself to play chess in 2018. It was successful at defeating human gamers after two hours of deep learning. It might defeat the world's top chess-playing computer in two hours after that.
In June 2022, engineer Blake Lemoine, who worked on the technology, stated that the AI was aware of its own experience, existence, and emotions. Google's LaMDA is an example of a powerful AI that blends natural language processing with deep learning.
Unfortunately for those who would desire a robot friend to converse with, LaMDA is not sentient despite having excellent conversational skills. The technology we've been discussing is simply used in a very advanced form here. However, this does not imply that it
Myth 2: AI will replace humans
Aside from world dominance à la The Matrix, the public's top worry about AI might be that it will replace them in their careers. But at least in sales and marketing, a significant amount of the work depends on creating deep human connections that AI can't duplicate.
Sales Development representatives (SDR) crew will never be replaced by AI. AI will increase their productivity and offer a better customer or prospect experience. We eventually need a real person because of the nature of sales. Conversational AI frees up SDRs’ time so they can concentrate on selling and making sure they're providing the best experience.
Myth 3: AI can't help my demanding customers
Although AI is frequently described in futuristic terms, it has been assisting consumers for decades. Natural language processing (NLP), a form of language-analyzing AI that came before natural language understanding (NLU), was first developed following World War II. Although it has faced some challenges since then, NLP has been widely used since at least 2011, when Apple released Siri, its AI-powered personal assistant.
Google Search, translation apps, predictive text, phone trees, autocorrect, and autofill are just a few examples of applications that use NLU. There are a ton of examples, the same technique is used every time one uses an automated phone system; it only uses speech instead of text.
We have been using those items for a long time. The fact AI has blended into so many parts of our daily lives proves just how powerful and effective it can be.
At the end of the day, comparing this to rocket science is a little unfair. These extremely sophisticated forms of AI require a significant amount of computing power, yet they are currently too expensive and complex to be available to the public. They're also not always very useful unless one wants to play chess for a living or engage in deep philosophical discussions with a computer.
Myth 4: AI ChatBot requires expensive technical skills
It makes sense that 45% of marketers still view themselves as AI novices. It's normal to find AI intimidating if one lacks technical skills. Thankfully, conversational AI bots have a user-friendly interface. Without a graduate degree, one can teach current and new staff how to use it, and one doesn’t need to pay developers or engineers to maintain the bots. Additionally, purchasing a million chatbots will cost less money than purchasing a million SDRs.
Myth 5: ChatBot cannot understand my business
Everyone believes that their company is far too special and intricate for a simple robot to comprehend. However, since AI's responses are created by humans, it doesn’t need to comprehend an organization to respond to inquiries about it.
According to AI experts, “if one can train a human on it, one can probably train a machine on it." The exception, he continues, would be if every single chat were unique, as AI benefits from repetition. However, most businesses aren't so complex that an AI bot couldn't be taught to respond to the most frequent queries.
Remember that artificial intelligence (AI) can spot and indicate specific specialty topics that your clients may not have known they wanted to know about. Additionally, since law and medicine must provide customers with specific information that a human agent might forget, AI is attractive to these highly regulated businesses because of its consistency.
Priyanka Shrivastava | PM
Priyanka Shrivastava is a Professor of Marketing and Analytics at Hult International Business School, San Francisco, USA.
Dr.Srinivasan.R. Iyengar | PM
Dr.Srinivasan.R. Iyengar, Director & Professor at JBIMS, University of Mumbai.
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