With artificial intelligence becoming ever more widespread, equity fund portfolio manager Lee Bressler addresses a number of common misconceptions.
A combination of machine learning, deep learning, and natural language processing technologies, artificial intelligence is already changing how millions of companies around the world do business each day. As artificial intelligence now continues to become more prevalent in home environments, Lee Bressler, a New York City-based equity fund portfolio manager and a fan of the technology, addresses a number of common myths and misconceptions surrounding the field.
“Artificial intelligence is becoming increasingly crucial to business success,” suggests Bressler, “so it’s important that those who are unfamiliar with the technology gain a better understanding as it becomes more widespread.”
This becomes more important still, says the equity fund portfolio manager, as advances in artificial intelligence technology begin to grow more popular in home environments, through the use of devices such as Amazon’s Echo, HomePod by Apple, and Google Assistant.
“Arguably the biggest myth right now,” reveals Bressler, “is that artificial intelligence works in the same way as the human brain.”
This, he says, simply isn’t true. “Right now, artificial intelligence is simply a software solution designed, in the most straightforward sense, to solve problems,” the New Yorker explains.
This means that while artificial intelligence may appear smart, or, indeed, truly intelligent, and while the technology is inspired by the human brain, it is not on par, nor is it close to being on par, with human levels of intelligence, according to Bressler. “Machine learning, in particular, has been largely inspired by our own brains, but the two are by no means equivalent,” he adds.
Another myth which Lee Bressler is keen to discredit is that artificial intelligence is capable of learning on its own. “This is another popular misconception,” he explains, “because human intervention is required 100% of the time to successfully develop artificial intelligence-based systems.”
“Furthermore, more often than not,” Bressler continues, “the required intervention needs to come from experienced human data scientists, meaning that any significant advances within artificial intelligence are likely to remain dependent on highly qualified human input.”
Artificial intelligence, he says, cannot truly learn entirely on its own. “At least, not for now,” adds the investment industry professional.
Third among the commonly purported myths which Bressler is eager to debunk is that not all businesses require an artificial intelligence strategy. “Again, this just isn’t true,” he states, “and each and every business absolutely must put some thought into how artificial intelligence has the potential to affect them.”
Organizations which fail to do so, says Lee Bressler, will almost certainly find themselves at a competitive disadvantage in the coming years.
“It will, at some point,” he concludes, wrapping up, “absolutely impact all of our lives, both professionally and personally, so it’s imperative that we take artificial intelligence seriously now and, where necessary, have strategies in place for how best to utilize and benefit from this rapidly evolving technology going forward.”