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Companies are about to waste billions on AI — here’s how not to become one of them

Mar 29, 2024 - venturebeat.com
The article discusses the hype around AI and how it can lead to wasteful spending. It suggests that while AI is a transformative technology, companies should be clear-eyed about their investments and avoid a shotgun approach. The author recommends understanding the total cost over time, questioning why someone else can't do it, and making a few bets that they're willing to follow through.

The article also mentions the AI Impact Tour in Atlanta on April 10th, where the use of AI in the security workforce will be discussed. The author concludes by advising companies to ensure their investments in AI have the best chance of success by following the tips outlined in the article.

Key takeaways:

  • AI is the current technology of the moment, with many companies and VCs investing heavily in it, despite the risk of many projects failing or becoming obsolete.
  • Companies should be clear-eyed about the total cost over time of an AI project, including the resources needed to sustain it and the increasing marginal cost of running large models.
  • Before embarking on an AI initiative, companies should ask why they are the ones to do it and whether they have a defensive moat such as preferential access to data or proprietary insights.
  • Companies should be willing to see through the AI bets they make, whether they are aimed at improving existing products, expanding into new sectors, or cannibalizing current business with new technology.
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