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The Dot-Com Bust's Lessons for AI's Boom
Paul Carroll, Editor-in-Chief of ITL
The only thing better than having smart friends is having smart friends who've been around a little while, gaining perspective.
In my case, the smart friend often turns out to be Chunka Mui, whom I've had the pleasure of working with for more than 25 years and with whom I've written four books. He recently published some sharp insights on how the lessons from the dot-com bust of the early 2000s should shape our thinking about today's boom in generative AI, and I'll summarize for you here.
Chunka knows whereof he speaks. He was one of the pioneers of digital strategy back in the mid-1990s--I first heard the term from his lips when we were partners at Diamond Management and Technology Consultants. He was also co-author of "Unleashing the Killer App: Digital Strategies for Market Dominance," a best-seller that has been described as the bible of the internet boom.?
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Diamond became known as "the killer app firm," and he advised on loads of projects. After he and I published "Billion Dollar Lessons" in 2008, on what to learn from major corporate failures, we consulted with major companies on how to tell whether they had a killer app or a killer flop,?before?they risked tens of millions of dollars.
So Chunka has seen the good, the bad and the ugly in major innovation efforts, like those companies are considering for generative AI.
A couple of his six pointers are tricky. He tells you to be aggressive but not too aggressive. Good luck with that, right? But even there, he explains how to sense if you're straying from a winning path.
Let's have a look.
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