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Dr Viktor Doerfler combines his background in developing and implementing AI with scholarly research on knowledge and cultivating talent to address misconceptions about AI. The Element explains what AI can and cannot do, carefully delineating facts from beliefs or wishful thinking. Filled with examples, this practical Element provokes thinking. The purpose is to help CEOs figure out how to make the best use of AI, suggesting how to extract AI's greatest value through appropriate task allocation between human experts and AI. The author challenges the attribution of characteristics like understanding, thinking, and creativity to AI, supporting his argument with the ideas of the finest AI philosophers. He also discusses in depth one of the most sensitive AI-related topics: ethics. The readers are encouraged to make up their own minds about AI and draw their own conclusions rather than accepting opinions from people with vested interests or an agenda.