https://www.economist.com/finance-and-economics/2024/08/19/artificial-intelligence-is-losing-hype

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Finance & economics | Free exchange

Artificial intelligence is losing hype

For some, that is proof the tech will in time succeed. Are they
right?

An illustration of a robotic hand with crossed fingers on a solid red
background.Illustration: Alberto Miranda
Aug 19th 2024
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Silicon Valley's tech bros are having a difficult few weeks. A
growing number of investors worry that artificial intelligence (AI) 
will not deliver the vast profits they seek. Since peaking last month
the share prices of Western firms driving the ai revolution have
dropped by 15%. A growing number of observers now question the
limitations of large language models, which power services such as
ChatGPT. Big tech firms have spent tens of billions of dollars on ai 
models, with even more extravagant promises of future outlays. Yet
according to the latest data from the Census Bureau, only 4.8% of
American companies use ai to produce goods and services, down from a
high of 5.4% early this year. Roughly the same share intend to do so
within the next year.

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OpenAIArtificial intelligenceSam AltmanFree exchange
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