If you only have person detection enabled then it will work as you are describing. It will ignore pets and other motion and only alert you when there is an intruder or other person detected on the camera, thus filtering out all the false alarms as desired.
Currently the AI is used to either alert you anything you ask it to detect, or else to label all events for easy sorting and filtering later at one’s leisure (such as to find the cute pet videos).
A future update (hopefully coming fairly soon) will allow both options at the same time. I too am anxious for that update.