5 biggest AI myths debunked 🔍️

ALSO: Apple shoes selling for $50,000

Author

Zain Kahn
July 26, 2023

Read time: 2.5 minutes

Welcome back, superhuman

The AI hype is real right now. But what’s hype and what’s real?

We’re debunking 5 of the biggest myths in today’s issue. Let’s dive right in.

 TODAY’S MENU

  • The Big Picture: 5 AI myths debunked

  • 5 AI tools to supercharge your productivity

  • Insight: Stack Overflow is underflowing

  • Enterprise Roundup: AI drives earnings in Q2, an AI assistant for enterprise

  • AI Tutorial: Social media content strategy

  • AI-Generated Images: If deceased legends were still with us

TODAY IN AI & TECH  

Source: Sotheby's

  • Auto(in)correct: ChatGPT shuts down tool designed to catch AI-written text due to low accuracy.

  • East to West: ChatGPT for Android launches in the US, India, Bangladesh, and Brazil. More countries coming next week.

  • Short and Sweet: Google says 2 billion users watched Shorts last month. Shorts is YouTube’s competitor to TikTok.

  • Living Large: Wayfair’s new AI tool can redesign your room and help you find the right furniture.

  • Rare Pair: A pair of rare trainers made by Apple in the 1990s are being sold by auction house Sotheby’s for $50,000.

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THE BIG PICTURE

Fact vs Fiction: The 5 most prevalent AI myths debunked

AI is approaching peak hype. One day you’ll read an article telling you that AI is about to change the world, and the next you’ll read one telling you it’s all empty promises.

Let’s split the fact from the fiction and the myth from the motherboard. Here are the 5 most prevalent AI myths doing the rounds:

  1. AI can understand things and think like humans: AI isn't as brainy as you might think. It recognizes patterns and generates human-like text, but it doesn't yet understand the meaning behind those words in the same way that humans do. Its responses are based on pre-programmed algorithms and patterns learned from data.

  2. AI will replace all jobs: AI will replace some jobs, but it will also create many new ones. History indicates that technological revolutions shift job landscapes rather than eliminate jobs outright.

  3. AI is only for large corporations: AI isn't just something big tech companies can use. Small businesses can also tap into pre-made AI tools or leverage AI services to build products, amplify customer care, and automate repetitive tasks.

  4. AI is a recent development: While you probably didn’t hear much about AI in the news until recently, its seeds were planted way back in the mid-20th century. It's been through plenty of ups and downs in research over the previous decades to get to where it is today.

  5. AI will soon have human-level intelligence: Current AI technology is narrow, meaning it excels in specific, well-defined tasks. The development of Artificial General Intelligence — AI that can think like or better than humans — is a future possibility but not a near-term certainty.

TOOLS

5 AI Tools to Supercharge Your Productivity

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INSIGHT

Stack overflow sees huge decline in traffic (likely) due to AI coding tools

Source: Ayhan Fuat Çelik

Looks like the force is no longer strong with Stack Overflow, as the website saw a big drop in traffic over the last year — from ~20 million to ~10 million monthly page views.

There’s no hard evidence to prove that generative AI coding tools like ChatGPT and Github Copilot caused the drop, but it’s likely that the widespread adoption of these tools is meaningfully correlated with the drop in Stack Overflow usage.

ENTERPRISE ROUNDUP

The latest and greatest developments in Enterprise AI

  • UBS projects 61% compound annual growth rate for AI demand between 2022 and 2027. More details →

  • Growth driven by AI will be the metric to watch this earnings cycle — Microsoft's shares increased by 44% this year due to OpenAI investments and AI integration. Alphabet also saw a 36% stock price increase. More details →

  • Cohere releases Coral, an AI assistant designed for enterprise business use. More details → 

  • More than 70% of companies are experimenting with generative AI, but few are willing to commit more spending. More details →

AI TUTORIAL

Social media content strategy

Need some help creating your social media strategy? Try the prompt below: 

Design a content strategy for [social media profiles] that spans [time duration] with the objective to appeal to [target audience].
Examine and formulate 10 captivating and thought-provoking themes in [content type], coupled with an ideal posting timetable that assists in accomplishing [goals].

Here are the steps to guide you:

Identify 10 captivating and one-of-a-kind themes in [content type] that will contribute to the achievement of [goal].
For the posting schedule, arrange it in the following manner: h1. the day of the week, h2. first social media profile, h3. various content types with their respective posting times. Then, h2. second social media profile, h3. different content types with their posting times.

Social media profiles = [Insert Here] 

Time period = [Insert Here] 

Target Audience = [Insert Here] 

Content type = [Insert Here] 

Goal = [Insert Here]

You can adjust the parameters above as needed to match your desired outcomes.

AI-GENERATED IMAGES

If deceased legends were still with us

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Until next time!

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