AI Bubble: Ready to Pop?

We’re back on our AI talk! Wired has come out with their latest article on why AI’s the one technology phenomenon to blow up the way it has. Though the concept’s been around for nearly 70 years (artificial intelligence was coined in 1954), the apps haven’t truly blown up until a couple years ago.  

If you’ve read our past blogs, we touch on the gradual incorporation of AI to taking over or assisting in areas of business (accounting, computer science, cybersecurity) to jet operations and increase their revenue. Despite wavering opinions on its usage, it remains evident that the growth of AI has skyrocketed to the point where analysts refer to it as a “bubble”.

What does that mean? The Ringer’s article summarizes that investing more into AI gives it a larger expectation of value than its actuality. In short, it leaves its true value indiscernible. When we place more money into a phenomenon without addressing the potential consequences - for when this bubble finally bursts - our view becomes more skewed. We continue hearing - and writing! - about AI’s perks in business (offering quicker pathways to company’s revenue and whatnot) and how drastically it’ll shape the future of technology. But apart from financial and corporate hype, there’s still social, economic, and environmental drawbacks for AI, which continues to leave the actual value of AI up in the air.

So with both praises and concerns, we’re still wondering what will become of this expensive powerhouse. The real challenge comes with how corporations and the economy will fully exploit AI’s abilities. As exciting as a new wave of technology sounds, sometimes we need to put on the clear glasses, take a step back, and examine all the potential qualities of something this large looming over our futures.

Sources:

AI Is the Bubble to Burst Them All | WIRED

 How Catastrophic Is It If the AI Bubble Bursts? An FAQ. - The Ringer