Money20/20 Europe once again provided a valuable snapshot of where the fintech and payments industry is heading. While artificial intelligence remained a dominant theme, the broader conversati...
Apple AI
February 18, 2025
Why am I not a big fan of AI? Look, I get it, it’s the way of the future, but AI has three fundamental issues for me: 1) fraudulent uses, 2) the perception the machine is infallible, and 3) the loss of learning.
Let’s take a look at all three, neatly wrapped up in an Apple commercial you’ve probably seen. You know, the one with the snarky, lying young woman. To refresh your memory, click here to watch, then return to my screed.
Don’t be dazzled by the production value of the commercial, keep your eye on the ball, because when you dig beneath the surface, as ol’ Bill will do to help you out, you will notice something else. And after I point it out, you’ll never be able to unsee it: AI has enabled that woman to lie, and worse, get rewarded for that lie.
She wasn’t prepared for the meeting, but instead of telling the truth and offering a reasonable solution, (e.g., “sorry, I haven’t read it yet, but I’ll read it tonight and contact you tomorrow”), AI lets the woman commit a fraud. She pushes a few buttons, and voila, the machine gives her the answer and thus allows her to perpetrate that fraud. Not prepared? Don’t worry, you can now use technology to extricate yourself from a problem!
In one fell swoop, you have seen all three of my criticisms play out: 1) the woman told a bald face lie, and got away with it, 2) the woman blindly trusted whatever the machine told her, 3) the woman didn’t form her own opinion from doing (reading the script), instead, she obtained an opinion from the borg.
All three are negative consequences of AI, but the third one might be the worst. This is the difference between doing and having. Having the end result might be expedient, but the loss of learning that comes will be far more consequential than you might realize.
The other Apple I’ve seen for AI all have the same theme. Pay closer attention next time one airs. Like I said, once you see it, you cannot unsee it.
In case you missed it and are interested in a deeper dive into the ins and outs of AI, take a look at my prior article.
Written by
William R. Snow
Managing Director
William R. (“Bill”) Snow, a FOCUS Managing Director, is an experienced M&A professional with over 30 years of professional experience, including almost two decades as an investment banker. His work includes business sales and capital raises for middle-market companies as well as buy-side services for acquirers seeking middle-market companies. Bill’s clients have included water works manufacturers and value-added distributors as well as firms focusing on packaging, medical supplies and equipment, automotive parts, drink dispensing equipment, security, apparel, refined fuels, and more.
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Written by
William R. Snow
Managing Director
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