AI Boom or Bust?

By Wayne Brown

 

The AI boom can be overwhelming and confusing for people who have not been around to see the last one like this. It helps to draw parallels. But, like any analogy, this comparison will miss a lot.

Here is a brief summary of what makes the Web work and the "Dot Com" bubble that grew and burst in the aftermath. Is something like this happening with AI?

For me, the key points are these:

  • The emergence of standards. Previously isolated research and application areas are coming together into a framework of inter-operable standards. Without this, the Web would not have been possible. With these standards, the ground is laid for dream applications, such as robots on the street.
  • The boom. It's easy for anyone in the basement to start a company with "AI" in its title. Most will flash and vanish. Some will persist. Obviously, the big players like Microsoft, OpenAI and Google have a head start, but the big winners may be outfits we have never heard of. 
  • Underneath it all is a real and very powerful technology with financially attractive applications. It's not a toy anymore.

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