Wall Street Journal published an article titled, “AI Becomes Silicon Valley’s Next Buzzy Bandwagon as Crypto Boom Fizzles,” discussing how trend-hoppers have moved from web3 and blockchain to artificial intelligence.
The document talks about the upcoming technological bubble that is artificial intelligence, which is receiving attention for creating content, images, and computer codes. According to the article, despite the technology’s obvious shortcomings, most technologists concur that the so-called generative AI that drives platforms like ChatGPT has the potential to transform how we live and work. Yet, some chief executives, investors, and engineers detect froth that makes them think of the recently overhyped cryptocurrency market.
Even computer professionals who escaped the recent rounds of layoffs that shook Silicon Valley are hopping on the AI train. Refugees from the crypto craze, the most recent IT industry boom to fizzle out, are among them.
Moreover, some AI experts are concerned that “artificial intelligence” may end up just being another one of those meaningless tech buzzwords.
Ben Waber, chief executive of Humanyze, a company that uses AI and other tools to analyze work behavior, added,
The people talking about generative AI right now were the people talking about Web3 and blockchain until recently—the Venn diagram is a circle. People have just rebranded themselves.
However, the article argues that the investors and founders in the AI industry complaining about the technology, have faith in their own AI tech. The movement of personnel and financing from computer titans failed Web3 startups, and speculative SPAC-fueled ventures appear to be the precise refocusing the tech industry needs, despite the risks of AI becoming another hype-fueled bubble, mentioned the article.