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Industry Vet Needed for AI Solutions

The idea

The idea is to hire an industry vet for AI solutions in the vacation rental industry. The argument is that while technical skills might not be the bottleneck anymore, understanding the intricacies and quirks of specific industries, such as housekeeping reports or beach house checkouts, becomes invaluable. These industry experts can spot when AI outputs are flawed or incomplete, a skill that companies desperately need. They can identify discrepancies in data recording, like how a minibar's revenue is reported differently in hotel accounting or how beach house checkouts involve dealing with sand. By bringing in an industry vet, these companies can ensure that their AI solutions are accurate and effective, avoiding costly mistakes that could damage their reputation and bottom line.

Why it works

• The industry vet brings deep, insider knowledge that AI systems often lack. Understanding nuances like how housekeeping reports are flagged differently for extended stays is invaluable.
• These experts can identify and correct AI outputs that are garbage, ensuring solutions are accurate and effective. Their insights prevent costly mistakes and save companies from wasting resources.
• Their ability to spot and correct inaccuracies leads to more reliable and useful AI solutions. This can significantly improve a company's efficiency and performance.
• The vet's presence fosters a culture of continuous improvement and validation within AI development teams. Their input ensures that AI outputs are not only technically sound but also contextually accurate.
• Their expertise ensures that AI solutions are tailored to specific industries' unique needs, increasing their relevance and impact. This is crucial for AI to be truly useful and effective in practical applications.

The playbook

To put the idea of hiring an industry vet into practice, follow these steps:

1. Identify Key Industry Quirks: Begin by gathering and documenting key quirks specific to your industry. These details can include how various systems operate, unique features, or industry-specific terminology. For example, in the vacation rental industry, understand how housekeeping reports are flagged for extended stays versus single stays, or how different types of accommodations (beach houses vs. ski lodges) have distinct financial and operational needs.

1. Document and Share Knowledge: Compile your findings into a comprehensive knowledge base. This could be a series of articles, a dedicated wiki, or even a set of cheat sheets. Share these resources with colleagues and industry peers to ensure everyone has access to this valuable information. The goal is to create a shared repository of knowledge that everyone can contribute to and benefit from.

1. Build a Feedback Loop: Establish a system where you regularly collect and review feedback from your team. This can be through surveys, one-on-one meetings, or informal discussions. Use this feedback to refine and update your knowledge base, ensuring it remains accurate and relevant. This continuous improvement cycle will make your vet knowledge even more valuable.

1. Educate and Train: Organize training sessions or workshops to pass on your industry insights to new employees or those new to the field. These sessions can be conducted in-person, virtually, or through online courses. The aim is to ensure that all new hires have a solid understanding of the industry’s nuances, which can then inform their work and decision-making.

1. Challenge AI Outputs: When working with AI solutions, always critically evaluate their outputs. If an AI solution outputs information that contradicts known industry standards or practices, challenge its accuracy. This proactive approach not only highlights the importance of vet knowledge but also ensures that AI outputs are reliable and useful.

Where people get it wrong

The founders of AI solutions often overlook industry-specific nuances, leading to outputs that are technically impressive but irrelevant. For instance, instead of understanding how housekeeping reports differ for extended stays versus single lines, they might build a generic system that fails to capture the unique complexities. This can result in outputs that are completely off base, such as incorrectly predicting extended stay savings. The solution is to integrate industry knowledge into the design and testing phases, ensuring that the AI solutions are tailored to specific contexts.

Another common mistake is to assume that all vacation rental operations work the same way, regardless of the property type. The founder's experience highlights that a beach house check-out involving sand presents unique challenges compared to a ski lodge. Instead of creating a one-size-fits-all solution, they should focus on identifying the specific challenges of each property type and incorporating that knowledge into their AI models. This will help in creating more accurate and relevant outputs.

Lastly, some AI solutions struggle with the fundamental physics of the environment they operate in. The founder’s observation that beach house check-outs involve sand in places that fundamental physics proves impossible points to a critical oversight. By understanding the physical constraints and environmental conditions, the AI model can be fine-tuned to avoid absurd outputs. For example, if a system is designed to predict rental income for beach houses, it should account for the fact that sand can make it difficult to count the number of guests accurately. The solution here is to ensure the AI models are grounded in real-world physics and environmental realities, allowing them to produce more accurate and practical results.

Do this next

1. Identify Industry Quirks: Spend the next week reviewing industry-specific documents and reports to identify key differences in data recording and reporting. This could include housekeeping reports, guest feedback surveys, or maintenance logs.

1. Document Your Findings: Write down your observations and insights in a document. This will serve as a reference for future AI integration projects and will demonstrate your in-depth understanding of the industry.

1. Conduct Interviews: Reach out to current or former vacation rental hosts and managers. Ask them about their experiences with AI solutions and any issues they've encountered. This will help you verify your findings and provide a more nuanced understanding of the industry.

1. Attend Industry Conferences: Plan to attend or watch recordings of industry conferences and workshops. This will give you a broader perspective and help you stay updated with the latest trends and best practices in the sector.