The article also discusses the success of AI Writing Assistants, which have managed to gather users and funding by simply wrapping around another's API. It emphasizes the importance of speed in the AI world, suggesting that a shorter feedback loop can be more advantageous than a perfect architecture. The author concludes by suggesting that the best AI teams can truly excel by focusing on the low-hanging fruit in the field.
Key takeaways:
- The IKEA effect, a cognitive bias where consumers value products they partially created, can be applied to AI products. People tend to value things, including software, more after they put in some effort.
- Current AI models are efficient and provide immediate business value, especially in tasks like synthesizing documents, creating Q&A mechanisms for datasets, and structuring unstructured data.
- Companies often assign their best people to work on AI, but these individuals may overcomplicate the process by trying to solve complex engineering problems where simpler solutions might suffice.
- Speed and execution are crucial in the AI world. A shorter feedback loop can be a much bigger advantage than a perfect architecture. Therefore, it's important to focus on grabbing the low-hanging fruit and executing quickly.