The Wheat from the Chaff #7

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 👋 ,

As promised, this week we conclude the series with the basic outline for an executive to understand the movements and applications of these new technologies in their respective companies. We also bring the latest updates on the new version of ChatGPT and how the automotive industry is already considering the use of this technology.

It's time to separate THE WHEAT FROM THE CHAFF…

Less is More

The popularity of ChatGPT is incredible. This Artificial Intelligence (AI) model is capable of providing creative and comprehensive answers to a wide range of questions in a user-friendly interface. Launched on November 30, 2022, in just two months, it has already reached over 100 million users and 13 million daily visitors. To recap, in our first edition, we showcased this technology in action.

Taking into account our last two texts in the series, it is clear how important it is to exercise caution and balance amidst this onslaught of information. Nevertheless, nothing is preventing us from considering real-life applications for businesses in a controlled environment.

Thinking about some use cases (there are several others), we have areas like marketing/sales, operations, technology/engineering, and legal, which allow for real-world applications seeking efficiency.

In marketing and sales, we can create applications that enable summarizing customer feedback, focusing on identifying important themes. This applies to various formats, such as texts, images, and even audio, for example.

In the legal and regulatory environment, it is possible to verify and identify relevant changes in a large number of documents, for example. This also includes contract review and even more specific texts, in areas such as patents.

Considering optimizing day-to-day tasks, we can consider improving communication among employees and even creating presentations based on detailed briefings. Each application has a level of maturity and its specificities.

Some estimates indicate that around 80% of projects of this nature do not go into production, therefore not progressing beyond the prototype and experimentation phase. And of those that do go into production, many end up being terminated for various reasons, such as low operational performance or not reaching an adequate level of accuracy. Additionally, some projects are also terminated as they do not justify themselves as a competitive advantage for the company.

An artificial intelligence project needs to address a clear business opportunity. It is important to remember that resources are finite, and choices need to be made as time, energy, money, and talent from various areas will be committed.

Thus, it is crucial to choose small proof-of-concept projects (but not negligible) and not overly ambitious (avoiding, for example, automating an entire business unit). These projects should demonstrate value within a timeframe of up to six months so that they can be perceived by stakeholders. If executed well, it naturally opens a window of opportunities for more elaborate projects.

After 5 years of implementing AI projects and drawing from numerous learnings, we have created a framework in which four pillars need to be present within the flow to significantly increase the chances of success: Data, Technology Applicability, Business Strategy, and People.

We have also developed an AI training program for leaders, in which 50 of the largest companies in Brazil and at least 300 decision-making executives have already participated. In this training, we present strategies that enable value generation and help avoid the mistakes we have already experienced.

Interesting topics in Brazil:

• 🔗 Link: 30 careers that can go to the next level with AI

• 🔗 Link: How AI can prevent some natural disasters

Trending topics Global:

• 🔗 Link: Don’t get scammed! ChatGPT scams are spreading through social media

Guest of the Week: Sidney Klajner

"Metaverse and AI are already the present of healthcare."

The president of Einsten was at the SXSW innovation festival and talked to Forbes Brazil about the digitization of the institution.

• 🔗 Link: Check the full interview!

See you Sunday…

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