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Welcome to the Self Storage Lab where we deconstruct how operators are adapting to today's technology driven landscape and how it might impact your business.

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Artificial intelligence has become a buzzword in the tech industry. Companies are eager to present themselves as “AI-first” and use the terms “AI,” “machine learning,” and “deep learning” abundantly in their web and marketing copy. 

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But what exactly is it? It's thrown around as a buzzword and can often be a blanket term that encompasses a broader set of tools and technology. So let's chat about what is and what is not AI.

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In this episode, we discussed:

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What is AI? Defining Artificial Intelligence

• AI is often incorrectly used as a buzzword to describe any automation
• True AI is technology that can mimic human thinking in an autonomous way
• Key capabilities include making assumptions, learning, reasoning, problem solving and predicting without human involvement

Current State of AI

• We don't yet have true artificial general intelligence
• Modern AI is narrow, specialized for specific tasks like games or images
• Researchers are focused on finding the next breakthrough in AI
• Goal is to achieve human-like artificial intelligence

How Big Tech Drives AI Research

• Companies like Google, Microsoft and Meta are pouring money into AI research
• Blurs lines between research and commercial applications
• Affects direction and focus of AI innovations

Types of AI Models

• Machine learning for statistical modeling
• Natural language processing analyzes and generates text
• Generative adversarial networks create synthetic images
• Large language models like GPT predict text sequences

Real-World AI Applications

• AI applied "vertically" into specific industries
• Must build an end-to-end AI stack beyond just the algorithm
• Includes data pipelines, infrastructure, interfaces, feedback loops
• Enables new apps like personalized recommendations

Current AI Limitations

• Models still have significant limitations around accuracy
• "Hallucination" generates plausible but false information
• Important to understand risks when implementing AI

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