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Overhyped promises, AI going nuclear, and uncovering fraud

Get insights on AI adoption, challenges, and industry shifts. Marc Benioff continues Copilot bashing, enterprise AI success is still elusive, and Swarm and agentic AI promise to automate white collar work

Author

Malcolm Frank, CEO
October 21, 2024

A Note from Malcolm

Years ago, a coach told me something that stuck: “Potential? That’s just a French word for ‘you’re not worth crap yet.’” A bit blunt? Sure. But true? Absolutely.

I raise this because Enterprise AI is still very much in its "potential" phase. While few doubt that GenAI is the next transformative technology—comparable in impact to the steam engine or the assembly line—there’s still a significant gap inside the corporation between the technology's arrival and the infrastructure and processes needed to unlock its full impact.

History offers perspective. Thomas Newcomen built the first steam engine in 1712, but it took nearly 90 years before the first locomotive came along, and another 22 years before the first public railroad.  That potential-to-reality gap lasted a century, with Enterprise AI will take about five years - and we’re already nearing its halfway point.  

As a result, we can expect to hear more criticism of AI hype—like the recent remarks from Mark Benioff. However, forward-thinking corporate leaders will stay focused on laying the foundation for the AI-driven success that lies ahead.

With that, let’s explore this and the rest of the week’s news at the intersection of work and AI:

Benioff warns AI is overhyped, blames Microsoft  

The king of hype knows hype when he sees it, says the impact of Microsoft Copilot is more muted than advertised, compares it to Clippy. 

AI stagnation: The gap between AI investment and AI adoption

GenAI adopted at double the rate of prior tech shifts. 

Why is corporate AI success so elusive?

The bottom line is we’re still in the learning stages. 

Big read: The agentic reasoning era begins, by Sequoia

GenAI is advancing the field from “thinking fast”—quick, pre-trained responses—to “thinking slow,” enabling more complex reasoning during inference. This shift is paving the way for a new wave of intelligent, agent-driven applications.

Goldman Sachs: Will AI lead to superintelligence or just super-automation?

On its current trajectory GenAI is looking much more like a business automation tool than an AGI platform.

JPMC continues as AI leader in banking; CapitalOne moves up with leadership in talent  

The Evident AI index shows a growing gap in the AI capabilities of big banks. 

OpenAI’s Swarm reignites fears of AI-driven automation of white collar work

Platform designed to combine agents into sophisticated, autonomous systems.  

Professional services face GenAI-driven pricing conundrum

Billable time needs to be approached differently now that AI has reduced workflow times from days to hours.

Amazon loses a top AI exec: All OK at AWS?

Matt Wood’s departure comes as AWS reaches a crossroads — and risks being left behind in the generative AI boom.

AI-native software engineering may be closer than developers think

Gartner: over the next three years many organizations will use AI agents to write the majority of their software, moving developers into new roles. 

Job hunting is demoralizing enough without having my personality eviscerated by an AI interviewer

“I did not ask to receive feedback after my interrogation by a chatbot - but the third-party AI platform did an uncanny impersonation of the boss from my first job.”

Why AI is going nuclear

Google, Microsoft and Amazon need nuclear to power their AI ambitions. They are all investing billions.

Tool of the Week: Augoor

For developers to improve code documentation and navigate large codebases.

Case study: Bain partners with OpenAI to better address client needs

Consulting leader bets on OpenAI to provide leverage to consultants. 

Case study: How Heineken is brewing success with AI

The new ingredient in their secret formula: AI.

Here are the AI startups that have raised more than $1 billion

There are many more of these than you probably think.

Case Study: How Ernst & Young’s AI platform is “radically” reshaping operations

EY launched its customized generative AI platform a year ago — at a cost of $1.4 billion — and the technology is already being used by 96% of its employees.

Can AI help Africa close the development gap?

AI could have transformative effects on developing economies and societies. But some fear a deepening digital divide. 

US Government recovers $4 billion in fraud with AI

Treasury department drives nearly 7x improvement in fraud detection in one year by leveraging machine learning.  

And one more thing…

I created an AI clone of myself and the result was unintentionally hilarious

Now I need to talk to my boss…

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