- The Wheat from the Chaff
- Posts
- The Wheat from the Chaff #15
The Wheat from the Chaff #15
This week we're going to have a chat about how FOMO and FOBO (wait, what?) relate to the current scenario regarding data, AI, and technology. We emphasize that technology is only one part of the equation. In addition to our guest, the famous chef Gordon Ramsay. Let's get started!
Jhonata Emerick
August 16, 2023
As part of my job, every week I read a lot of content about data, technology, and artificial intelligence (also known as AI). I filter them and send you the best ones, every Sunday.
Hello everyone 👋 ,
This week we're going to have a chat about how FOMO and FOBO (wait, what?) relate to the current scenario regarding data, AI, and technology. We emphasize that technology is only one part of the equation. In addition to our guest, the famous chef Gordon Ramsay. Let's get started!
It's time to separate THE WHEAT FROM THE CHAFF…
Less is More
Acronyms like FOMO, which stands for "Fear of Missing Out," and FOBO, which represents "Fear of Better Opportunities," are often used to describe feelings of anxiety and fear related to decision-making. These words remind us of how, in the distant past, hesitating to commit to a single choice could have been a useful strategy to maximize chances of survival.
In the current context, these emotions still resonate, particularly in business environments where the constant flood of information and technological innovations make it difficult to discern between what is relevant and what is just noise. Today, FOMO and FOBO are feelings that intensify in moments of inflection, such as the current one where we have the emergence of various technologies.
Recently, a purportedly leaked document from a Google employee has brought forth points that warrant reflection: "Open-source AI will surpass Google and OpenAI." Regardless of the document's authenticity, it highlights important lessons about competitiveness and differentiation in the AI market (the current hot topic), but it applies to others as well. In this document, three particular excerpts stand out:
But the uncomfortable truth is that we are not positioned to win this race, nor is OpenAI. While we fought, a third group silently stole our lunch. I'm talking, of course, about open source. Simply put, they are outperforming us. Things we consider "big open problems" are already solved and in the hands of people today.
Although our models still have a slight advantage in terms of quality, the gap is closing surprisingly fast. Open-source models are faster, more customizable, more private, and more capable.
People will not pay for a restricted model when unrestricted alternatives are comparable in quality. We need to consider where our real value-add truly lies.
The mentioned "open-source AI" in the text refers to software whose source code is available for everyone to view and modify. Therefore, while analyzing these excerpts, it becomes evident that solely relying on large-scale AI models may not be the most effective strategy for companies like Google and OpenAI. Additionally, the open-source strategy should better address the challenge of privacy.
The agility and flexibility of innovation offered by open-source models, which can be improved rapidly and at low cost, are being seen as a growing threat. This suggests that companies need to rethink their strategies, perhaps focusing on enabling third-party integrations and exploring ways to collaborate with the open-source community.
Furthermore, the document highlights the importance of understanding customers' needs and expectations. In a world where high-quality and unrestricted AI models are freely available, customers may not be willing to pay for restricted models that offer comparable quality.
Therefore, companies need to identify where their value-add lies and how they can continue to meet their customers' needs in ways that open-source initiatives cannot. This involves customizing models to cater to specific customer requirements.
This document reveals that even technology-leading companies like Google and OpenAI face classic market challenges, such as identifying their target audience, balancing price and value generated, competition, and effective communication with customers. Therefore, in addition to considering current and future technology, it is important to contemplate how data and AI can support and accelerate your company's strategy.
So, if there is any FOMO or FOBO, let it be in considering these important variables beyond technology as well.
With that in mind, grab your popcorn, and let's watch from the sidelines to see if the saying holds: "The blacksmith's house doesn't have an iron skewer." The era of AI is just beginning! :)
Interesting topics in Brazil:
🔗 Link: See the predictions about Artificial Intelligence, according to Gary Marcus, one of the main voices on the subject today.
🔗 Link: AI against the fraud in Soccer bets.
🔗 Link: Wendy's and Google create a chatbot to serve drive-thru with the goal of reducing costs, increasing accuracy, and speeding up orders.
Trending topics Global:
Guest of the Week: Midjourney
When mentioning generative Artificial Intelligence (AI), Midjourney stands out as one of the most popular tools. Specializing in transforming textual descriptions, or 'prompts', into images, Midjourney has shown impressive results. The platform was developed and is maintained by Midjourney, Inc., an independent research company based in San Francisco.
Here we present an example of the power of this tool: an illustration generated by the platform, representing the renowned chef Gordon Ramsay aboard the historic Titanic.
We would love your help sharing this website!
If you know someone that might like our posts, don’t be shy and share it with them! By the way, we appreciate this!
See you Sunday…
We always arrive in your inbox around 12:08 PM. Some email servers are stubborn and delayed... Others are even worse and throw us into spam and/or promotions. What's the logic behind this timing? ...None :)