History suggests that failure is an essential part of a transformative technological revolution.
The vast majority of corporate GenAI deployments fail. That’s how a recent MIT study, surveying some 300 projects totaling 30-40 billion dollars in investment, was summarized in the media. The findings rattled investors and prompted speculation about a premature end to the current ‘AI spring.’ Even OpenAI frontman Sam Altman admitted that AI is likely in a bubble. “Are we in a phase where investors as a whole are overexcited about AI? My opinion is yes,” he said.
I haven’t covered AI much – it’s not my beat – but you may remember that I have expressed skepticism about the tenability of big tech’s current AI investment spree. Please note that’s not the same as being an AI skeptic. Quite the contrary, in fact. I just don’t think AI is any different than previous technological revolutions.
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