Episode #329: Understanding Your AI Preparedness – Melinda Byerley

Beware of the rising costs of AI 'tokens' as models become more metered; plan for increased expenses and optimize prompt design to manage these costs effectively.

Don't fall for AI 'FOMO' (Fear Of Missing Out); take a strategic, measured approach to AI adoption, learning from others' experiences, like Starbucks abandoning an inaccurate AI project.

Implement an AI 'operating system' for repeatable tasks rather than just one-off uses; this ensures consistency, context, and manageability of AI-generated content and processes.

Prioritize data governance and privacy when using AI; understand the implications of data sharing with AI models and educate your team on safe usage practices to avoid leaks or misuse.

Recognize that AI tools are not a substitute for human critical thinking and expertise; the human element is crucial for defining quality, ensuring accuracy, and verifying information, especially for sensitive claims like fair housing or community status.

Start experimenting with AI in a disciplined way; begin with simple tasks to understand its capabilities, limitations, and how to formulate effective prompts, gradually building your team's proficiency.

Understand that AI's initial 'cheap' services are likely subsidized; be prepared for prices to rise and adjust your long-term AI strategy to account for these evolving costs, treating it like an adjustable-rate mortgage.