Everyone knows that Artificial Intelligence (AI) is a big thing and almost every single tech company in the world seems to be riding that hype wave.
However, we feel like it’s our responsibility to inform you that the claims of almost every tech company using AI are absolutely false, and here’s why.
Most of the claims we’ve seen from tech companies “supposedly” using AI are false.
Such hype wave comes with a whole new world of marketers and scammers using the buzz word with fake AI to trick their customers into thinking they’re using real AI. Why? Because it sells.
Our Chief Technology Officer (CTO), Gabriel Kent, goes into more depth as to the technical aspects of Fake AI vs Real AI here: What Is Next Generation Ad Tech Artificial Intelligence (AI)
Our responsibility is to inform you on the business aspects of truly “Useful AI vs Useless AI”; because there’s no point in supposedly doing AI if it’s not going to beat the human benchmark.
Useful AI implies using neural networks, machine, transfer, reinforcement and deep learning in production models that are actually taking action on the predictions of the simulations, not just making recommendations and providing insights of what to do (sorry “AI” analytics companies, but if some human needs to actually do what your platform recommends, then that’s not a truly useful, independent and autonomous AI).
Useful AI eliminates the need for human intervention; it does all the work for humans and takes care of those aforementioned recommendations for them, it doesn’t just provide insights. That’s not to say their predictive technology is bad, we’re sure it’s amazing; but it just can’t be considered useful “AI” per say.
Useful AI is what Elon Musk’s and Sam Altman’s OpenAI company did here: Dota 2 World Champions Defeated By AI.
Useful AI is what the Adext AI is currently achieving by increasing conversions within Google AdWords + Facebook Ads by +1,200% (average across all customer data) when compared to the “human + pre-Adext technology" benchmark/baseline based on the historical data of those customers before the Adext AI took over their campaigns.
Fortunately for us, Google and Facebook combined, receive 84% of the global digital advertising investments according to the Financial Times. Why do they receive so much? We believe it's mainly due to their ability to generate sales at a very low cost, and not just clicks/impressions.
The Adext AI doesn't pretend to do Google's job better than Google, nor Facebook's job better than Facebook. That would be a very ambitious goal, considering they both have some of the best talent in the Artificial Intelligence space.
We did, however, achieve an AI that does the job better than any human media buyer + pre-Adext technology using those platforms.
"Pre-Adext Technology" is hereby defined as old technology known as bid managers.
Examples: Kenshoo, Marin, Acquisio, etc.
Not to say their technology is bad, it's actually very good.
It's simply becoming obsolete, in the sense that their approach can only deliver conversion uplifts ranging between +10% to +20% in average.
A few weeks ago, the Adext AI was delivering conversion uplifts of +500% (average), and last week it was increasing them by +1,200%. The AI is learning and delivering efficiencies that even we who built it, cannot even begin to comprehend.
We wouldn’t be surprised if within a few more weeks it’s increasing conversions by +2,500%.
Peter Thiel, in his bestseller book "From Zero To One", states that disruptive technology needs to be 10x superior to its "closest substitute" and we tend to agree with him.
"Closest substitute" in this case would be the old tech bid managers mentioned above.
Anyway, the whole purpose of this article is to inform you on how to tell the difference, so that you can weed out the fakers, pretenders, marketers and scammers, so here it goes:
How To Tell The Difference Between Useless "Artificial Intelligence" (AI) & Useful AI
- How automated is it? How much human input is required by the users of the supposed AI? If it requires an employee to operate it every day, then it’s not an autonomous and useful AI. Useful AI is what we call “It Does It For You” or IDIFY (not “Do It Yourself” or DIY; that’s not truly useful AI).
- Is it a plug & play automated self-service that takes around 5 minutes to setup and then the AI does everything for you? Or is it behind locked doors and requires a months-long consulting-like process, plus training, for "it" to be deployed? If the latter, then it’s not useful AI. If you’re truly using AI, then why keep it behind locked doors?
- Does the tech company guarantee an increase in performance under contract when using their supposed AI? Artificial Intelligence, by definition, must be more efficient than humans at whatever it is it does. If the company cannot guarantee an increase in efficiency (providing superior results than any other human or software on the market), then it’s not true, useful AI.
- Does it do the work for you? Or does it just provide insights? If the latter, then it’s not truly useful AI.
- Is it fully transparent and can you see the millions of actions the AI is taking per day? Or is it a black box into which only the company claiming to be using AI can see? If the latter, then chances are you’re being scammed and there’s actually a person doing the stuff they falsely attribute to the supposed AI within that black box (see bullet point one).
Congratulations, you just became an expert on being able to identify if any given company is using truly useful AI or useless AI.
If you wish to join the hype wave and scammers (which we strongly advise that you don’t), then read this article: How To Convince Venture Capitalists You’re An Expert In Artificial Intelligence
If you want to see what true AI can do transparently by taking millions of intelligent actions per day using Gaussian processes and Bayesian inference, then please visit: https://adext.ai
The Adext Audience Management as a Service (AMaaS) AI is the first and currently only ad tech AI Software as a Service (SaaS) self-service solution in the world today, where a user can simply sign up, click connect to Google AdWords and/or Facebook Ads, do a 5 minute setup process, and then the AI will do everything for the user. You can see how the AI is doing up to 480 changes through 480,000 simulations per every single ad, every day.
Those changes occur transparently within the users own account.
As of the date of this article, this real AI is increasing conversions within those platforms on average by +1,200%, but you can expect it to be increasing them by +2,500% within a few more weeks.
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