- In a blog post Monday, the FTC warned companies to avoid overselling AI products.
- Some companies have called AI a “hot marketing” term because they can’t stop its “abuse.”
- Since ChatGPT hit the news in November, several companies have announced their own AI efforts.
With so many companies claiming to be using artificial intelligence, the Federal Trade Commission has stepped in, warning that it’s watching for false promises.
Michael Atleson, attorney for the FTC’s Advertising Practices Division, wrote: blog post On Monday, AI has become a “hot marketing” term, with some companies saying they “can’t stop abuse or abuse.”
“Marketers should know that false or unsubstantiated claims about product efficacy are our sustenance for the purposes of FTC enforcement,” the regulator said. “If those claims aren’t supported, we don’t need machines to predict what the FTC will do.”
Since its debut last year, ChatGPT has made headlines for its ability to do everything from essay writing to coding. The epidemic has sparked an AI arms race among big tech companies such as Microsoft and Google. Recently, Snapchat announced that it would incorporate ChatGPT into its app, and Meta said it had set up a top-level team to build AI tools.
But it’s not just the tech giants. News organizations such as Buzzfeed and CNET are also starting to use AI. Even some retailers Embedded AI Services such as Zoom Video Communications and cybersecurity companies such as Palo Alto Networks also say they have started using the technology.
One company says mentions of artificial intelligence and related terms on earnings calls jumped 77% this earnings season compared to a year ago. Report from Bloomberg.
And there are good reasons to drop the mention. Stocks of relatively obscure companies with the term “AI” in their names have surged in recent months, the magazine said.
“It’s impossible to quantify the impact of AI, and the likelihood that a wave of enthusiasm will carry stocks with AI expertise or exposure to AI is unlikely,” said Russ Mold, investment director at AJ Bell. Equally,” told Bloomberg.
The FTC said the market has been gearing up for “AI hype” for decades, citing stories like Frankenstein to Pinocchio.
“For generations, we’ve told stories about magic and science, bringing inanimate objects to life, and imbuing them with powers beyond human ability,” the blog post said. “Is it any wonder that marketers are ready to accept what marketers have to say about new tools and devices that seem to reflect the power and benefits of artificial intelligence (AI)?”
The FTC didn’t specifically mention the companies that spread false promises about AI, but Atleson said, “The AI hype runs today from toys to cars to chatbots and many products in between. It is deployed in many products, ranging from
For example, the FTC says it’s an exaggeration for companies to claim that their AI technology can make “reliable” predictions of human behavior in general, although this is still scientifically possible. not. The FTC also says it is misleading for companies to claim that a product uses AI if the AI is only used to develop the product.
The comments could set the stage for future battles between regulators and tech companies. The lawyer said some companies may overstate the capabilities of their technology, while others either don’t work well or advertise his AI capabilities without using artificial intelligence at all. I warned you that you may be