Is it possible to tell truth from marketing spin?
Artificial Intelligence (AI) has become an industry buzzword. It’s at the top of the hype cycle right now. As a result, sales and marketing people are using “AI” in sales pitches all the time. You see “AI” everywhere in the ad copy for all kinds of software solutions. If you’ve been to any trade show recently, then you've been blasted with "AI" messaging along every aisle of the show floor.
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VC’s are smart enough to recognize the difference, but are you?
VC’s have seen the trend coming for at least two years. Last year, at an investor conference that I attended, one of the VC’s on stage said that AI has become so trendy that the running joke between the partners was that they would immediately fund any company who pitched them a solution without mentioning AI in the pitch.
In a typical solution implementation, these “artificial intelligence” companies are actually just doing basic data analysis using classic software programming techniques. Bottom line: making data contextually relevant is not AI. If a software company is not using AI as a core technology, then their solution will never get smarter over time nor will it reach any level of autonomy.
Stop with all the marketing hype
Many software companies today are incorrectly using AI as catchall phrase for anything that has to do with data or workflow or robotics. However, at the center of any “True AI” company there has to be a data product: some data offering which is the output of the autonomous processing of vast amounts of information. Automating workflow or automated processing of data by itself does not constitute artificial intelligence.
Get smart with your vendors
Here are seven things to consider about your software vendor to determine if they are really employing AI in their solution or if they are just jumping on the AI marketing bandwagon.
The AI hype won't end anytime soon. The best that you can do for now is to educate yourself and be prepared to ask the tough questions during any vendor evaluation process. Good Luck!