AI Success: A Shocking Omission?
February 11, 2021
I read “Here’s What All Successful AI Startups Have in Common.” The “all” troubles me. Plus when I received a copy of the CBInsights’ report, I did not read it. Sorry. Logo collections don’t do it for me.
I noted this statement in the “all” article:
I think “AI startup” is a misnomer when applied to many of the companies included in the CB Insights list because it puts too much focus on the AI side and too little on the other crucial aspects of the company. Successful companies start by addressing an overlooked or poorly solved problem with a sound product strategy. This gives them the minimum market penetration needed to establish their business model and gather data to gain insights, steer their product in the right direction, and train machine learning models. Finally, they use AI as a differentiating factor to solidify their position and maintain the edge over competitors. No matter how advanced, AI algorithms alone don’t make a successful startup nor a business strategy.
What was the shocking omission? The massive amount of jargon and marketing hoo hah each firm generates. I wonder, “Why that point was overlooked?” Oh, there is another common factor too: Reliance on the same small set of methods most AI firms share. Thank you, Reverend Bayes.
Stephen E Arnold, February 11, 2021
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