Artificial intelligence (AI) is currently one of the most polarized and hyped topics. This is accompanied by many misconceptions, expectations and fears. IFS Labs, the innovation center of business software provider IFS, sheds light on five common myths about artificial intelligence.

1 AI is new
The idea of creating artificial intelligence has been around for a long time. The US computer science professor John McCarthy coined the term "artificial intelligence" back in 1955 and researched the basics of AI at Stanford University. Since then, there have always been new developments and hype surrounding the topic - usually followed by disillusionment. AI is currently receiving a boost, which is likely to be sustained, primarily due to the now widely available big data and the massive increase in computing power, which is highly scalable thanks to cloud computing.

2 AI thinks like a human
Artificial intelligence is often greatly exaggerated and it is suggested that it can think independently and solve problems like a human. However, AI systems still do nothing other than carry out what humans have previously instructed them to do through programming. They are now so advanced that they can give the impression that we are dealing with human intelligence - for example, when AI systems recognize images, understand language or control cars. However, it is still just an impression.

3 AI and machine learning are the same thing
Artificial intelligence is the umbrella term for all systems and technologies that give the impression of human intelligence. Machine learning is just one of these technologies. It involves constantly feeding algorithms with new data and training them to continuously improve their output. Other sub-disciplines of artificial intelligence include deep learning, cognitive processing and natural language processing.

4 AI will take away all our jobs
So far, technological revolutions have always ended up creating more jobs than they have destroyed. The same can be expected with artificial intelligence. This is especially true if people are supported and encouraged to learn the new skills they need to work side by side with intelligent systems. The most likely scenario is therefore that humans and AI will work together and support each other.

5 AI will one day take over the world
The dystopia that intelligent robots will one day subjugate humanity has preoccupied science fiction since its beginnings. Fritz Lang's 1927 film Metropolis sends its regards. But even today, such horror visions continue to haunt the media. What is completely ignored: Even if robots were to have something like morals or a will at some point, they would only ever conform to what humans have previously programmed. Robots will never be able to develop their own motives.

"As with many things in life, it is important to find a healthy balance between optimism and pessimism when it comes to artificial intelligence," says Bas de Vos, Director IFS Labs. "Companies should not believe everything they are told, but should invest in the possibilities that are actually feasible; because AI undoubtedly has the potential to bring about profound changes for the better in many areas of the economy."