The world of business is abuzz with the term 'AI', and it's not just because of the technology itself. Companies are scrambling to rebrand themselves as AI specialists, leveraging the buzz around AI to boost their image and secure media coverage. This phenomenon, known as 'AI washing', is a tactic some businesses are employing to make their products or services appear more innovative and cutting-edge than they actually are. The pressure to do so is particularly intense in the UK, where companies are stretching the truth to describe themselves as AI experts, even if their products or services have little to do with artificial intelligence. This trend is not limited to the UK; companies worldwide are jumping on the AI bandwagon, hyping up their products and services to attract attention and investment. For instance, AllBirds, a US shoe company, recently pivoted towards acquiring AI graphics processing units, while genetics companies have been promoting AI-powered blood tests. The trend is so pervasive that even companies in low-tech industries are trying to associate themselves with AI. A property company, for example, is marketing a tool that scans buildings and generates floor plans as an AI product, when in reality, it's just a handheld scanner with some automation features. This 'AI washing' is not just a marketing ploy; it's a reflection of the broader business landscape. As companies make thousands of job cuts and implement AI technology, they are reassessing their image and how closely they want to align with AI. This shift is particularly evident in the financial sector, where the chief executive of Standard Chartered recently apologised for describing workers poised to lose their jobs to AI as 'lower-value human capital'. Despite the jitters over the AI boom, stock market investors have largely shrugged off recent concerns, focusing instead on rising inflation and the war in Iran. The pressure to associate with AI is so intense that even public relations firms are being forced to send out AI-related press releases, despite their industries' reputation for unscrupulously hyping up products. This trend raises a deeper question: How much truthfulness is there in the 'AI' label? And what does it imply about the future of business and technology?
