There are pioneers and followers when it comes to new technologies and innovations. A select few bring to market exciting products and solutions that revolutionize our personal and working lives. Many others then merely jump on the bandwagon to capitalize on great ideas with inaccurate claims.
This leads to buzzwords and hype that obscure the truth and overwhelm consumers with misleading marketing statements, making it difficult to distinguish between what is real and what is exaggerated.
Take, for example, some years ago when every product suddenly became “smart.” Pioneering and innovative companies introduced advanced consumer products and appliances that quickly gained traction in the marketplace. Next thing you knew, practically every similar product being sold claimed to be smart, but the very idea was being watered down and “smart” became an ambiguous and questionable concept at best.
The ‘powered by AI’ era
History may be repeating itself with artificial intelligence (AI). Here’s a little anecdote I like to share: if you watch the iconic American TV game show The Price is Right, you’ll see many featured prize items “powered by AI,” including televisions, washing machines, fridges, ovens – practically anything electronic. Some items do, in fact, have AI capability, but others simply have “powered by AI” as an empty tagline and misleading marketing claim.
There’s a hype cycle that emerges with innovation and includes these stages:
- The innovation is developed
- Select leading vendors offer solutions that have this unique innovation embedded
- Other vendors quickly make an inaccurate claim to also offer the same innovation
- Eventually the innovation becomes a commoditized feature and exaggerated claims diminish
AI for EHS
We are witnessing the early stages of a hype cycle with EHS solutions that tout AI capabilities.
A report from independent research firm Verdantix sheds light on AI in EHS solutions. The report acknowledges there are often misleading claims, saying, “AI has become a buzzword of the tech industry and is often used as a financial lever to win favor with both investors and customers”.
We learn from the report that, in 2019, venture capital firm MMC Ventures determined 40% of 2,830 AI start-ups in Europe did not use AI in their products. Also, in March 2023 the US Federal Trade Commission issued a direct warning statement to firms making false or unsubstantiated claims.
It’s clear and obvious that misleading claims around AI constitute a real problem.
Key questions to ask
As you evaluate AI capabilities of EHS solutions, there are 11 key questions to ask vendors. You can find them in the Verdantix report Strategic Focus: AI And The Revolution Of EHS Compliance. Here are a few to consider:
- What type of machine learning model is the vendor using?
- How has the model been trained and on what data sets?
- Can the vendor provide an indication of the time and effort required to train the solution at the start of the deployment?
- Are there any minimum data requirements or technical considerations for the solution to work effectively?
The Verdantix report offers valuable insight on how to assess the AI capabilities of EHS solutions and includes the following key takeaways:
- Clarifications around what constitutes an AI solution
- A comprehensive overview of existing EHS AI use cases
- Guidance on the data architecture required to successfully apply machine learning models for EHS
- Prioritization of AI use cases for EHS
- Questions to consider when assessing a technology vendor’s AI capabilities
- How AI projects will force firms to critically assess EHS data management systems
Download your complimentary copy of the Verdantix report today.