Generative AI Hype Cycle Failure

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generative AI technology

TechXplore

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Viewpoint: Generative AI hype is ending—and now the technology might actually become useful

Summary

Nutrition label

83% Informative

Some said the technology would trigger a fourth industrial revolution, reshaping the world as we know it.

Many projects using the technology are being cancelled, such as an attempt by McDonald's to automate drive-through ordering which went viral on TikTok after producing comical failures.

A Gartner report said most of these technologies are two to five years away from becoming fully productive.

Even OpenAI, which has led the race for ever-larger models, has released the GPT-4o Mini model to reduce costs and improve performance.

We see a strong focus on providing AI literacy training and educating the workforce on how AI works, its potentials and limitations, and best practices for ethical AI use.

VR Score

Informative language

Neutral language

Article tone

semi-formal

Language

English

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Offensive language

not offensive

Hate speech

not hateful

Attention-grabbing headline

not detected

Known propaganda techniques

not detected

Time-value

long-living

External references

https://techxplore.com/news/2024-08-viewpoint-generative-ai-hype-technology.html https://www.rand.org/pubs/research_reports/RRA2680-1.html https://www.nytimes.com/2024/06/18/technology/nvidia-most-valuable-company.html https://arxiv.org/abs/2406.01382 https://www.richmondfed.org/cfosurvey/https://www.assemblyai.com/blog/emergent-abilities-of-large-language-models/https://www.washingtonpost.com/science/2024/06/12/how-smart-ai-chatgpt-intelligent-child/https://sciencex.com/help/newsletter/https://www.nature.com/articles/s41562-023-01659-w https://www.wired.com/story/how-quickly-do-large-language-models-learn-unexpected-skills/https://www.tiktok.com/@typical_redhead_/video/7192248491853303086 https://www.gartner.com/en/documents/5505695 https://www.itnews.com.au/news/gov-writes-off-centrelink-calculation-engine-project-after-191m-spent-598412 https://arxiv.org/abs/2001.08361 https://www.bbc.com/news/articles/c722gne7qngo https://www.forbes.com/councils/forbescommunicationscouncil/2024/07/16/embracing-ai-literacy-the-key-to-thriving-in-the-age-of-genai/https://www.goldmansachs.com/insights/top-of-mind/gen-ai-too-much-spend-too-little-benefit https://www.bloomberg.com/news/articles/2024-08-08/move-over-llms-small-ai-models-are-the-next-big-thing https://arxiv.org/abs/2206.04615 https://www.forbes.com/sites/jackkelly/2023/03/31/goldman-sachs-predicts-300-million-jobs-will-be-lost-or-degraded-by-artificial-intelligence/https://www.frontiersin.org/journals/psychology/articles/10.3389/fpsyg.2018.00345/full https://www.sequoiacap.com/article/ais-600b-question/https://www.mckinsey.com/capabilities/operations/our-insights/adopting-ai-at-speed-and-scale-the-4ir-push-to-stay-competitive https://theconversation.com/generative-ai-hype-is-ending-and-now-the-technology-might-actually-become-useful-236940 https://fst.net.au/financial-services-news/asics-genai-experiment-fails-to-pass-muster/https://www.magzter.com/stories/newspaper/The-Straits-Times/GENERATIVE-AL-FALLING-SHORT-OF-PROMISE-TO-TRANSFORM-BUSINESSES https://theconversation.com

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