Aniket Deosthali (Head of Product for Conversational Commerce at Walmart) provides a great framework for evaluating AI product opportunities in How to Build AI Products People Want:

The most efficient way to evaluate AI opportunities and unlock the advantages of AI is by using the Consideration x Context framework. Let’s start with some baseline definitions.

Y-Axis = Consideration: The amount of effort required to make a decision.

The more thought you put into a decision, the higher consideration it is. For example, choosing a dish detergent is “low consideration” for most shoppers, compared to buying a car which is “high consideration.” Consideration can be represented as a function of the number of compelling alternatives and the stakes – users’ tolerance for errors, for example.

X-Axis = Context: The volume of abstract concepts AI needs to know. 

Context refers to how many abstract concepts a model needs to know in order to provide a useful response. Does it only need to understand a small batch of data points (like a product catalog), or does it need to understand the entire internet (like ChatGPT)?

He goes on to explain how to plot different solutions on a “Survival Curve.” If you work on AI products this is one of the rare actually helpful articles for PMs in the area of AI and LLMs.