The article emphasizes that while AI is attracting significant attention and investment, it's crucial to focus on products and services that can sustainably transform societies for the better. It argues that genuine innovation builds upon what came before it to bring consumers new value, products, and services, while speculation leverages the potential for innovation to attract attention and raise money. The article concludes by asserting that applying these criteria can help identify truly groundbreaking AI products and services.
Key takeaways:
- AI is experiencing a surge in interest and investment, with over $15 billion invested in generative AI companies in the first half of 2023. However, it's important to differentiate between genuine innovation and speculation in this field.
- Three criteria to evaluate the innovative potential of AI companies, products, and services include real-world implications, prolonged market impact, and sustainable implementation.
- Real-world implications refer to how AI is changing the way people work, connect with their communities, or live their lives. Prolonged market impact refers to the lasting effect of a product or service on the market, while sustainable implementation refers to the product's ability to move beyond the hype cycle into true and pragmatic growth.
- Despite the hype and speculation surrounding AI, it's crucial to focus on sustainable and transformative innovation that can genuinely improve societies.