In this piece we dive into why the analogy of "data is the new oil" is misleading. While it’s easy to brush this off, language matters, and the forms of short-hand we use have an outsized impact on how we perceive the world. This is only heightened when we approach the new and the unfamiliar. The number of AI-related analogies has exploded considerably in the past few years. At the same time, advances in capabilities have created a new generation of AI-first companies that are fighting to position themselves in emerging markets. Both these trends shed some light on the promise and perils of analogies and provide lessons for policymakers and entrepreneurs alike.
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