Nela Richardson, chief economist at ADP, highlights a significant learning gap about what constitutes AI, with much of what is being called "generative AI" having been around for decades, while much of what workers think is AI is actually automation. Many businesses are trying to transition from the "glamour" to the "actual implementation" of AI, with some companies merely rebranding existing processes as AI. The true potential of AI for more complex tasks such as contextual thinking and healthcare applications is yet to be realized.
Key takeaways:
- Artificial Intelligence (AI) is the main topic of discussion at this year's World Economic Forum in Davos, but there is a lack of understanding about how to implement it.
- Big companies such as Salesforce, Infosys, IBM, and Accenture are showcasing their commitment to AI through billboards and posters.
- There is a significant learning gap about what constitutes AI, with many mistaking automation for AI.
- Many companies are talking about AI but are not actually implementing it, with the true potential of AI for complex tasks yet to be realized.