More than 1,000 companies mentioned AI in their quarterly reports this summer, up from just 36 a decade ago, according to a Washington Post analysis.
cited the technology as part of its tool kit to detect fraud. Alaska Air used it to “enable more fuel-efficient flight paths.” Medical company Hologic’s AI algorithm helps medical practicians identify precancerous lesions and cervical cancer cells in women. Yum China Holdings, which owns KFC and Pizza Hut, plans to use AI to better connect online orders to brick and mortar stores.
The technology has become what AI pioneer Marvin Minsky referred to as a “suitcase term, ” said Joseph Fuller, a Harvard Business School professor. “You kind of jam anything in there you wanted, you know, and carry it around and say ‘Oh, this is my AI.’”Companies are even adding AI to their name. In 2019 C3 IoT — shorthand for the buzzword of yesteryear, the internet of things — rebranded to C3 AI.
It’s become such a buzzword that some companies were “starting to rebrand things they were already doing as artificial intelligence,” said Mark Riedl, a professor who focuses on artificial intelligence at Georgia Tech. Nearly anything involving data could be considered AI. “And you might just get a little bit of extra pop for whatever you’re trying to achieve.”AI technology goes well beyond the generative tools like ChatGPT or the Dall-E image generator.
, including using data to spot patterns and make predictions. This is the type of AI most widely used by companies today, said Fuller.The latest technology breakthroughs are so recent that CEOs “will be learning about it too, but they’ll want to reassure institutional retail investors that they’re not asleep at the switch.”
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