Three AI myths that are hurting businesses

ARTIFICIAL intelligence (AI) is a difficult concept to grasp for many businesses.

On one hand, business leaders in our region understand its importance - 80 per cent of them agree that it's instrumental for their organisation's competitiveness. On the other hand, only 41 per cent of organisations in the region have embarked on their AI journey. Part of this can be attributed to a lack of thought leadership and leadership commitment to invest in AI.

I believe this can be traced back to the fact that many decision-makers today still do not fully comprehend what AI actually means and as a result, have placed unrealistic expectations on the technology.