Wanna Be an AI Entrepreneur? Part 2
August 17, 2023
MIT digital-learning dean Cynthia Breazeal and Yohana founder Yoky Matsuoka have a message for their entrepreneurship juniors. Forbes shares “Why These 50 Over 50 Founders Say Beware of AI ‘Hallucination’.” It is easy to get caught up in the hype around AI and leap into the fray before looking. But would-be AI entrepreneurs must approach their projects with careful consideration.
An entrepreneur “listens” to the AI experts. The AI machine spews money to the entrepreneur. How wonderful new technology is! Thanks, MidJourney for not asking me to appeal this image.
Contributor Zoya Hansan introduces these AI authorities:
“‘I’ve been watching generative AI develop in the last several years,’ says Yoky Matsuoka, the founder of a family concierge service called Yohana, and formerly a cofounder at Google X and CTO at Google Nest. ‘I knew this would blow up at some point, but that whole ‘up’ part is far bigger than I ever imagined.’
Matsuoka, who is 51, is one of the 20 AI maestros, entrepreneurs and science experts on the third annual Forbes 50 Over 50 list who’ve been early adopters of the technology. We asked these experts for their best advice to younger entrepreneurs leveraging the power of artificial intelligence for their businesses, and each one had the same warning: we need to keep talking about how to use AI responsibly.”
The pair have four basic cautions. First, keep humans on board. AI can often offer up false information, problematically known as “hallucinations.” Living, breathing workers are required to catch and correct these mistakes before they lead to embarrassment or even real harm. The founders also suggest putting guardrails on algorithmic behavior; in other words, impose a moral (literal) code on one’s AI products. For example, eliminate racial and other biases, or refuse to make videos of real people saying or doing things they never said or did.
In terms of launching a business, resist pressure to start an AI company just to attract venture funding. Yes, AI is the hot thing right now, but there is no point if one is in a field where it won’t actually help operations. The final warning may be the most important: “Do the work to build a business model, not just flashy technology.” The need for this basic foundation of a business does not evaporate in the face of hot tech. Learn from Breazeal’s mistake:
“In 2012, she founded Jibo, a company that created the first social robot that could interact with humans on a social and emotional level. Competition with Amazon’s Alexa—which takes commands in a way that Jibo, created as a mini robot that could talk and provide something like companionship, wasn’t designed to do—was an impediment. So too was the ability to secure funding. Jibo did not survive. ‘It’s not the most advanced, best product that wins,’ says Breazeal. ‘Sometimes it’s the company who came up with the right business model and figured out how to make a profit.'”
So would-be entrepreneurs must proceed with caution, refusing to let the pull of the bleeding edge drag one ahead of oneself. But not too much caution.
Cynthia Murrell, August 17, 2023
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