6/21: Three Minutes a Day: Every Company is Suddenly Claiming to Use AI. That’s Simply Untrue.
Three minutes a day take bad business decisions away.
Today's tip: When vendors claim to use AI, don’t just fall for the buzzword. Ask meaningful questions.
In a hurry? Just watch the video below.
Have you noticed that these days, every software provider claims to use Artificial Intelligence in its products? Did the AI developer market suddenly expand to include hundreds of thousands of data scientists working on virtually every software in the world? Of course not.
The truth is that AI has become a buzzword, just like "digital transformation" or "mobile-first approach" were ten years ago.
More importantly, AI is on a spectrum.
It doesn't take MUCH effort to incorporate "some” AI within your digital product, and that’s why "doing AI" has become one of the biggest scams in corporate America.
Although a Gartner report shows that AI adoption year on year has increased by 270%, there is no clarity on what type of AI is currently being employed (machine learning, natural language processing, computer vision etc?) or to what extent AI is actually used by companies.
There are so many basic examples of A, such as chatbots, auto-correct, knowledge bases with smart search, analytics. This means the barrier to entry is very low to nonexistent for companies to jump onboard and claim they are AI-ready.
But these claims provide a false sense of artificial intelligence adoption, creating the illusion of AI versus the reality of technological innovation.
Executives should take a step back and evaluate the extent to which their companies are successfully employing artificial intelligence today. They must be honest with themselves and their shareholders in an effort to pave the way forward for a robust, scalable and actionable AI strategy.
Along the way, of course, they must also watch for dishonest vendors claiming to use AI just so that they can get a foot in the door and sell a specific product or service.
I want to make sure everyone understands a simple truth: No matter what industry you are in, there are AI opportunities for you to explore, despite the fact that for a long time, AI was exclusively associated with companies such as Google, Amazon, Microsoft or Tesla.
But AI can be well employed by more than just giant corporations. At its core, Artificial Intelligence can help reduce company costs and increase revenue. Whether you’re in manufacturing, ecommerce, marketing services, real estate, healthcare or retail, AI can help you deliver outstanding results. You just have to know how to ask the right questions at the right time.
Over the next decade, one thing is certain: AI will become table stakes for any company seeking to thrive in an overly competitive environment. Until then, plenty of posers will “spoil the AI party” with exaggerated claims that serve to erode public trust in an otherwise fantastic technology framework.
Long-term sustainable AI investments are required by any company that wants to succeed over the next decade, but overplaying your hand by claiming you use more AI than you do is dangerous both for your reputation and your long-term success.
Did you like this video clip? Then you’ll also love this one: 6/20: Three Minutes a Day: When You Should NOT Invest in Artificial Intelligence
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