Artificially Inflated? Popping the AI-Hype Balloon
While AI is growing in popularity, we must be wary of hype and focus on its real potential and value. Watch out for “AI-washing.”
AI has become extremely popular nowadays. The term seems trendy and new, but do we really comprehend what it signifies?
The widespread use of AI has caused it to lose some of its meaning and power. Furthermore, people tend to idealize and mythologize everything related to technology and AI.
According to recent Google data, generative AI has the potential to significantly contribute to the GDP of my country Belgium in the next decade. It is expected that there will be a growth of around 9%, which translates to an increase of 45 to 50 billion euros. This impressive figure demonstrates the impact of AI on our economy.
Capital magnet
We are currently witnessing a surge in the use of AI technology. In the 1990s, the internet was the center of attention, and in the early 21st century, ‘the cloud’ took over. We briefly explored blockchain, augmented reality, and the metaverse, but now, everything seems to be ‘AI-driven.’ It’s the new ‘e-’ or ‘2.0’ for modernizing old things.
Since 2012, AI advancements have been made, particularly in neural networks and deep learning. By 2016, the development of generative AI was on the rise, primarily due to the progress made by OpenAI. We are all familiar with ChatGPT’s story.
Multinational companies like Salesforce, Nvidia, Amazon, and Microsoft are thriving. Any product or service associated with the term “AI” immediately attracts investment and attention, making the term a magnet for capital.
‘AI-driven, AI-washing’
Nowadays, the term ‘AI’ or ‘AI-driven’ is being overused, even for the most trivial things. A quick Google search of ‘AI-driven’ will show how often this term pops up. Logging in? AI-driven. Converting a PDF to a Word document? AI-driven. Finding a suitable photo for your poster? AI-driven.
Companies are guilty of ‘AI-washing,’ using the term to make their products and services seem more advanced than they really are. Recently, the US stock market watchdog issued a warning against this practice.
It is essential to be cautious of false promises regarding AI. Nowadays, the ‘AI’ label is slapped onto everything, making it difficult to discern what true AI really is. We are still far from achieving the singularity, as the last significant breakthrough dates back to 2012. Therefore, be wary of individuals who claim to be AI experts but are only interested in taking your money.
The field of marketing is constantly evolving, and new technologies are being developed every day. Advanced algorithms have been developed that have significantly reduced the amount of manual work needed for certain tasks. Although some may dismiss these advancements as hype, we cannot ignore their impact on the industry.
It is essential to consider a broader perspective when analyzing the significance of AI. Are our interests in AI just temporary fascinations for something novel?
While we should take the developments and applications of AI seriously, we must also recognize that they are a part of the longstanding relationship between humans and machines. It is crucial to avoid getting overwhelmed by the abundance of AI applications, thereby losing track of our goals.
Progress
The future is still being determined, and it’s hard to know what it holds. While many people are excited about AI, it’s important to remember that the real pioneers in this field will stick around. True AI is much more than just a passing trend or a buzzword.
It’s a robust set of tools that have the potential to change the world in many ways. As we continue exploring this technology, we must focus on creating intelligent systems to help us move forward without harming human workers and society.
Our society’s use of technology is critical. If people and machines collaborate effectively, we can achieve significant results. The key to success is understanding the strengths of humans and machines and being transparent about our approach.
Establishing clear and effective agreements that prioritize our security and privacy is important. Additionally, having a robust ethical framework in place is crucial. By ensuring that these elements are properly addressed, we can fully realize the potential of technology and avoid it being merely a passing fad.
