It Says “AI Powered” But Does It Matter?
It’s tempting to accept that if the internet claims something is AI-operated, then it must be, but AI is being held to an entirely new standard in 2023, thanks to the introduction of ChatGPT. That means everyone needs to be prepared to examine whether or not something is actual AI or if the use of AI is even integral toward achieving a goal.
“I think [it’s] a really important thing for people to do right now is to look at how they evaluate the AI marketing promise because there’s an opportunity now that people are capitalizing on to just launch with the name AI, that they’re using it, but not really, or they’re not doing anything you need,” said Robert Burke Jr., Founder and CEO of Sobo, a company that matches businesses with consultants. Burke says that one way to try and distinguish fact from fiction is to ask questions about the company’s AI team, their data strategy, and patents they might have, if any.
Jason Feimster, Founder of Moonshine Capital, said that a more fundamental question should be asked first, whether or not the use AI of really makes a difference to achieving the objective. “What is it that you want to achieve,” said Feimster. “Do you want to get funded? Can I fund you? Yes. That’s the only question that matters. Now, if I claim that I can get you funding through AI, and you care about how they work, we’re muddying the water, you’re still not closer to getting funded.”
At the same time, one shouldn’t hesitate to at least experiment with the technology. Jared Schulman, CEO at Lendica, says that “There are probably some small, idiosyncratic risks to interacting with AI but largely speaking, it’s a really exciting time. I think it’s right to be curious and to try, and some really great things are going to come from it.”
Meanwhile, Burke at Sobo said “I think this is the key to remember that AI is not a magic wand that instantly solves all your problems and challenges. It’s a tool that when it’s used properly, can provide benefits. But it also comes with its own challenges and limitations because it is such early stages.”Last modified: July 6, 2023
Anaya Vance is a reporter for deBanked. Connect with me on LinkedIn.