It got me thinking about the difference between a fad and a trend in the marketing world.
Currently, we're seeing a lot of buzz around AI and its potential applications in various industries. On one hand, it could be argued that the sudden interest in AI is a fad - a temporary spike in popularity that quickly fades away. However, on the other hand, we're also seeing steady progress and development in the field of AI over time, which suggests that it may be more of a trend.
In the book, Ries and Trout discuss the importance of understanding the difference between a fad and a trend in order to make strategic marketing decisions. Fads come and go but trends have the potential to shape the future.
According to the authors, successful companies capitalise on trends. Will companies invest in AI as a short-term fad or a long-term trend? I think we will see a bit of both. In the end it really depends on the company, its orientation and its goals.