Just like grief in our lives and change in our business, nearly every high in the world leading toward a low has stages. Since the advent of time, we see business taking a boom, becoming the most profitable niche, and then getting replaced by something more innovative.
This is the reason experts claim that “getting comfortable” within a business means signing up for failure. Right from the trading days all the way to infrastructure development, followed by finance, advertisement, banking, tech, and now AI, we see the same business pattern on repeat. Every few years, the human race invents something new that eventually gets replaced by something more innovative. However, thanks to easy access to good internet like Xfinity, now everyone can use AI, learn about its features, and even develop something similar or even better. This democratization of information has also led to speeding up the replacement cycle as well. One day, social is all the hype and the next thing you know, it is replaced by blockchain or AI.
Understanding the AI Change Stages
Currently, AI is making rounds online. Nearly every business imaginable is using AI to boost their business productivity. Tech gadgets and tools are replacing workers. To make matters worse, this is creating a panic situation among workers and business owners. While entrepreneurs are taking this as an opportunity to become the next most profitable thing in the market, they are still not sure if AI will survive the test of time or will be replaced in just a few years.
If you are a business owner thinking of using AI to boost productivity, a student thinking about AI proofing your degree, a worker worried about being replaced, or just an investor thinking of investing in AI, keep reading as we debunk all the major myths about AI.
1. It’s Worth the Money
AI is now becoming as accessible as a fast-speed internet. In fact, if you have an internet connection, you are unstoppable. Most of the AI comes with a free base-level prototype so you can try it and see if you want to purchase or upgrade the tool.
The best thing about these AI tools is that currently you can find AI tools for nearly everything because AI is in its boom phase. Nearly anyone with good enough information or some basic technical knowledge can easily customize the AI tools. Companies are also working on their personalized AI tools that can boost productivity while cutting costs.
2. Perfect Investment
AI is experiencing a boom, which means AI companies are becoming a hot commodity. Nearly every AI Company has doubled in overall profit within the last few months. While this seems to be a very promising trend, experts in tech are comparing this with social media trends.
Just a few years ago, social media was experiencing a similar boom, and right after AI, it crashed. Overall, AI investment is good for instant profit but not for long-term investment.
3. Replacing the Tech
AI has definitely replaced the tech boom. This is the reason we are noticing tech giants firing people left, right, and center. However, if you are thinking the replacement of AI will be the end then you need to think again. Experts are predicting that AI will soon be replaced with something more advanced. Although these predictions do not include what will be the future or how AI will be replaced trends make the replacement more evident.
4. Good for Business
Ai might not be good for the job market but it is an excellent addition for business. Nearly all the business niches and industries in the market are seeing AI as a revolutionary factor. This is also encouraging more companies to come forth with their AI ideas.
Currently, there are so many tools that you can search online and you will come across so many free AI options that will offer you much better results.
5. Removing entry Barriers
Remember the time when starting a business required a lot of money? You were expected to invest heavily in infrastructure, hiring people, and then training the employees. Moreover, monopolies within business were so common that family business was the only way to start your company. Not anymore.
Today we see youngsters leading businesses with minimum investment. With AI, this has now become easier, helping people to start businesses without hefty capital.
Is AI Heading Towards Its Demise?
Considering the above stages, it is safe to say that just like most of the business niches; AI is indeed heading towards its demise. However, before you lose it all, you need to realize that it’s not going to happen overnight. For the millennial, this might not even happen in their life span.
Experts believe that just half a century ago, the overall replacement cycle for any niche was nearly 60-80 years. This means a skillset is enough to set you up for the rest of your life. Most people would retire within the same niche, working on the same project throughout their lives, and retire with a stable pension.
Since the time has changed, learning new skills is very important. Now companies expect the worker to keep up with trends, evolve with time, come up with better ideas, or prepare to be replaced. To sum it up, AI is here to stay but it will become just another invention. Soon even kids will be able to fully develop a customized AI tool based on their needs, which will eventually eliminate the need for AI inventors and developers.
Wrap Up
Simply put, the day will come when AI no longer will be considered a giant but it’s not now. Just like most of the social media platforms that earned billions and trillions and created a tech boom, AI will also experience the same and only then it will reach its demise.
