Generative AI has undoubtedly captured the imagination of users, offering assistance in composing emails, creating presentations, and even applying for jobs. However, as the technology continues to proliferate, a note of caution has been sounded by experts, emphasizing that reckless adoption of AI could jeopardize its future.
In recent times, technology vendors have rushed to incorporate generative AI features into their products, but numerous companies have encountered the harsh realities of its limitations after embracing it with open arms.
Jeremy Shapiro, a serial entrepreneur and mentor based in San Francisco, who has spent 14 years facilitating discussions with business networks and scale-up advisory groups, including the Bay Area Mastermind, has witnessed both AI success stories and disasters. He warns against the indiscriminate use of AI simply because it’s readily available.
Shapiro points out that AI was historically somewhat inaccessible to entrepreneurs and business founders. Still, with the widespread availability of generative AI tools, business owners and their teams are increasingly deploying AI without a comprehensive understanding of its limitations.
In the absence of formal AI policies and training in the workplace, many employees may be unaware of AI’s limitations and deficiencies. This lack of awareness can result in outcomes that are inaccurate and incongruent with a company’s values.
Shapiro argues that the absence of policies can lead to unforeseen consequences, and he cites instances where companies implementing AI-driven chatbots faced backlash because the platforms prioritized the company’s interests over those of their customers. He cautions that companies, like DoorDash, which plans to implement an AI-driven phone order system to relieve overburdened restaurant staff, must ensure that such systems genuinely enhance the customer experience rather than create frustration.
Shapiro also highlights experiences with ChatGPT, a popular AI tool for tasks such as copywriting, presentations, and contract reviews. He notes that users often fail to critically evaluate the technology’s underlying limitations.
While ChatGPT can produce convincing content, it may struggle with nuances like brand voice, making it more suitable for generating rough drafts that require human refinement.
Shapiro is concerned that many companies are plugging AI into their processes haphazardly, emphasizing that the mere presence of AI in a product doesn’t guarantee its value or alignment with customer expectations.
Despite industry excitement, surveys suggest that both businesses and the general public are approaching generative AI with skepticism. A Roy Morgan survey revealed that 57 percent of respondents believed AI creates more problems than it solves, citing concerns about job losses, regulation, and potential misuse. Only 18 percent saw AI as beneficial when used correctly, and just 16 percent believed the pros outweighed the cons.
CPA Australia’s Business Technology Report survey of 697 accounting and finance professionals echoed these sentiments. While 55 percent reported using AI tools like ChatGPT, most small and medium-sized businesses were cautious about integrating next-gen AI and remained uncertain about its safe and secure utilization.
To address AI’s inherent inaccuracies, OpenAI has launched an enterprise version of ChatGPT. However, caution remains paramount when deploying AI to enhance the customer experience. According to Shapiro, it’s essential to consider how and where AI is used within the business and to strike a balance between trust and prudence. The democratization of technology has made AI more accessible to everyone, but an overreliance on it could backfire.
