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AI is not brand-new but has been around for some time
You may not have thought about it, but AI is already built into many products.
Since OpenAI introduced ChatGPT in November 2022, Artificial Intelligence (AI) has taken center stage in discussions across industries. Companies are swiftly integrating AI tools into their products, or even venturing into developing AI solutions independently.
However, amidst all the buzz, there is a lesser-known truth that AI has quietly infiltrated more products than commonly perceived. Let's explore what AI really means and the various products where it is already being applied.
To define AI, we can think of it as a form of Machine Learning system that goes beyond fixed, programmed algorithms. In other words, it encompasses systems that are capable of learning and evolving from data, rather than relying solely on predetermined instructions.
In today's landscape, AI plays a critical role in several product categories:
Fraud Detection: Insurance companies are using AI-powered tools to identify fraudulent claims. These tools analyze both structured and unstructured data, looking for patterns that indicate fraud. Notably, these AI systems are easily trained through supervised learning, with manual review of a "positive" claim feeding back into the system.
Self-Driving Cars: Although completely autonomous cars are not yet a reality, features like Adaptive Cruise Control and Lane Assist rely on AI. These capabilities enable the vehicle to observe its surroundings, interpret the data, and respond accordingly, facilitating semi-autonomous driving.
Medicine: AI, specifically Computer Vision, has already proven its worth in medical applications. These AI systems demonstrate comparable performance to humans in tasks like medical screening, accelerating the process, and reducing false positives, as shown by this example.
IT Security: AI-powered pattern recognition is instrumental in identifying and combating malware and advanced IT security threats. By recognizing patterns associated with malicious activity, AI systems strengthen defenses against cyberattacks.
Voice Assistants: Voice-enabled virtual assistants such as Alexa, Siri, and voice commands in cars use speed-to-text capabilities to understand user input. AI algorithms process and understand human speech, enabling seamless interactions with technology.
As these examples demonstrate, AI is not a completely new concept, but rather an integral part of numerous products used by the masses.
However, among existing AI applications, one particular area stands out as a notable breakthrough - Generative AI. Advanced tools such as ChatGPT, Bard, LLaMA, Stable Diffusion, DALL-E, and Midjourney go beyond pattern recognition. Their primary ability is to generate entirely new data, such as text or images, based on the patterns they've learned from existing data.
So the next time someone tells you that AI is a new thing, remind them of the many ways it already enriches their daily lives. From fraud detection to self-driving features to medical advancements, AI's ubiquitous presence is transforming industries and driving innovation to unprecedented levels.
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What I read
This is separate section of this newsletter. I will list some of the best articles I read on the internet. They may or may not be related to the topic of this article. I will keep a list of the best articles (currently >700) at https://www.digital-product-management.com. These are today’s picks:
Peak Product Manager: Product Competency Toolkit, a system of 12 product manager skills you can use to level up your team and yourself.
The Design Sprint: A DIY guide for running your own design sprint.
Onboard New Team Members: A Comprehensive Guide to Welcoming New Team Members.