Why Mark Cuban says AI is both 'stupid' and a make-or-break tool for businesses

"Mark Cuban believes businesses need to embrace AI to succeed, but he says those that use it incorrectly are doomed to failure. "There's going to be two types of companies: those who are great at AI, and everybody else," the celebrity billionaire of "Shark Tank" fame said. "And the 'everybody else' is going to fail because AI is such a transformative tool.""

"Like fellow shark Kevin O'Leary, Cuban thinks AI will have a substantial positive impact on businesses that implement it well. However, business leaders need to understand the intricacies and distinctions between different AI tools and not treat them as interchangeable. He said using AI ineffectively could turn helpful tools into an expensive distraction."

""Because AI is continuously changing, you need to just have people - and, really, every CEO - taking the time to understand every nuance of every new tool that comes out," Cuban said. The world is still "in the first inning of the first preseason game" of the AI revolution, Cuban said, even though generative AI tools like ChatGPT have been out for more than three years, while other forms of AI, like machine learning, have been around for decades."

Businesses must embrace AI to succeed, and organizations that use AI poorly risk failing. AI chatbots and generative tools can quickly and effectively aggregate information and provide helpful assistance. AI tools have limits and are not a cure-all; ineffective or interchangeable use of different AI tools can become an expensive distraction. CEOs and teams need to understand the nuances of each new AI tool and continuously learn as the technology evolves. The AI revolution is in its early stages, with large tech firms investing tens of billions and both generative AI and long-standing machine-learning techniques advancing rapidly.

Read at Business Insider