I’ve been needling the artificial intelligence (AI) hype bubble since 2015 when, after managing a CalTech research grant, I saw a massive discrepancy between the attitudes of buzzword merchants and data scientists. Later, in 2017, I was the lone dissenting source in a FoxNews piece overhyping the use of AI to solve fake news.
While I hate the hype, I love what’s coming with AI.
Early stage investor Rick Grinnell articulates a pragmatic assessment of the hype around AI and how it’s really being used now. “From a real product technology standpoint, we’re still in the first inning of the game. Very few things that advertise AI have the goods under the hood,” says Grinnell. “I think what people are touting as innovative AI is still very basic, and we can go a lot further.” Rick should know. He’s the Founder and Managing Partner at Glasswing Ventures, which has focused on AI enabled security companies for a number of years.
How does one navigate the hype and decide when to invest in AI and machine learning (ML)? Here are some dos and don’ts:
Don’t exhaust yourself chasing exotic math
The major misconception behind the hype is the belief that a sudden influx of advanced math has caused machines to think like humans.