Why You Need to Understand Data

💡AI TRIVIA

Back in 2017, The Economist announced that data had overtaken oil as the most valuable resource. This idea has been echoed ever since. Companies in every sector have poured money into data and analytics and continue to do so. Yet, like oil, data and analytics come with their own challenges.

Data is a bit unstable and comes with many issues, such as privacy. It’s not tangible either, making it harder to handle. But as the world runs on email, the world runs on data.

📈 AI See You: Trends and News

See? Data is a big thing. It’s so big, that we haven’t really gotten the gist of how to turn it into something beneficial. We rely on AI to help us analyze massive amounts of data and convert this into value, but sometimes we fail. Here are some news of how AI is used incorrectly:

McDonald’s has decided to end its AI drive-thru project with IBM after three years.

The decision came in June 2024 due to numerous social media posts showing customers struggling to communicate their orders to the AI system. One notable TikTok video showed two people repeatedly asking the AI to stop adding Chicken McNuggets to their order, which eventually totaled 260 pieces. According to an internal memo dated June 13, 2024, obtained by Restaurant Business, McDonald's announced it would terminate the partnership with IBM and discontinue the trials.

In February 2024, Air Canada was ordered to pay damages to a passenger due to incorrect info from its virtual assistant.

In November 2023, Jake Moffatt asked about bereavement fares after his grandmother died. The assistant wrongly told him to buy a full-price ticket and apply for a discount later. Moffatt spent CA$794.98 for a one-way and CA$845.38 for a return ticket. When he tried to get a refund, Air Canada denied it, saying bereavement fares don’t apply post-purchase. Moffatt sued, claiming negligence and misinformation. The tribunal ruled against Air Canada, and they had to pay Moffatt CA$812.02, including CA$650.88 in damages.

In 2023, lawyer Steven Schwartz used ChatGPT for legal research in a case against Avianca.

Unfortunately, he found out the hard way that AI can provide false data. Schwartz submitted non-existent cases to support claims, leading to scrutiny from Judge Kevin Castel. The judge fined Schwartz and his partner $5,000 after discovering the fabricated citations. Schwartz admitted he didn't verify the AI's information and vowed not to rely on it without checking facts first. The judge also dismissed the lawsuit.

🛠️ Leverage AI Better For Your Business

Let's say you want to write better copy for email outreach.

The first thing you want to do is talk to the people who make these copies. Understand what the problem is for them and where the redundancies are. Because they are in the trenches, they are the ones trying to do it every day, so they can tell us what's working and what's not.

This way, we'll get to know what are the requirements for the tools and where are their actual pain points. With that, we can go to the market and look for what tools solve this problem. After that, you’ll have a list of tools. The best thing to do is to look at the pricing. What can you spend your money on and choose no more than three.

If there are multiple people on your team, give them each one of these tools. Have one person work on one tool and another person work on another tool. Have them test it out for a week or two weeks and give them a set of requirements for each of them. After that, sit down and talk through the process of what worked well and what didn't work well. What did they like, and what did they not like? At this point, you can make a decision or have them switch the tools and try it out for another week, then repeat the process until you can make a decision.

Set a milestone for these tools after two or three months so that you know it's the right tool. Track KPIs or metrics and observe improvements. Remember, the thing with Generative AI is it's not a set and leave; it's an iterative process, and it's something you have to work on.

🔧 AI Tools Spotlight

Prompt Perfect

A plugin tweaks user inputs to boost ChatGPT's reply quality. It clarifies and sharpens prompts using the GPT-3.5-turbo model. This refined input improves responses. Activate it by typing 'perfect.’

AIXploria

AIXploria is a list of AI Tools which is updated daily, categorized into different use cases. This greatly reduces time for research.

🚀 Quick Wins

Can we optimize the process?

Optimizing the process is like having a new hire. You spend the time to interview them, have them meet the team and the it's same case when you're bringing a new resource or implementing a new strategy. To optimize this process we have to put standardization processes in place. This way we have data to review and KPIs to track.

 🫶From The Hearts of the AI Experts At GemStack

Training AI ≠ Prompt Engineering

The general consumer usually equates training AI with prompt engineering. But to be more technical, it's not. Businesses can only fine-tune AI models which means providing large amounts of data and try to get AI to make decisions differently. Long story short, companies cannot train AI, we can only communicate to them better.

Come Prompt Engineering. This means communicating with the model better. There's a structure that businesses need to approach when writing a prompt:

1.) Provide the context as best as possible

2.) Identify the objective

3.) Give a clear answer to what we are trying to do or accomplish

👊The Reality of the Situation

🤔 Intrigued by AI's Potential, But Unsure of the Next Step?

We get it! This issue might have you brimming with possibilities, but where do you begin? The AI StandUp is made with ❤️ by GemStack and we are here to bridge the gap. Head over to our website, or simply reply to this email with your specific questions. Let's turn your AI curiosity into a game-changing reality.

💡What'd you think of today's edition?

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