Analytics firm FactSet dug through recent earnings call transcripts of S&P 500 companies and found that use of the term AI far exceeds the five-year average.
In reality, what AI washing leads to is a breakdown of confidence between vendors and their consumers, enterprise partners and investors. For example, when a law firm buys an AI assistant to replace a human, it may stop working in a matter of months if it's not based on a unique, unbiased database that's specifically trained on law and actively learning.Toby Coulthard, chief product officer at Phrasee, a generative AI solution for enterprise clients , says to be wary of any business that uses the term AI broadly.
"The more you see a business speak more verbose around what they do with AI and what they don't do with AI, it's going to be a lot more of an accurate representation," Coulthard said. While the distribution and delight elements of M12's investment analysis process aren't directly related to AI washing, these factors play a key role in determining the sustainable longevity of a startup .
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