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Monday, July 17, 2023

3 ways AI is Already Transcending Hype and Delivering Tangible Results

3 ways AI is already transcending hype and delivering tangible results

Peter Evans, Xtract One Technologies    in Vneturebeat

@XtractOne, July 15, 2023 8:20 AM

Google search trends for AI have soared since the service launched, and companies are rushing to lap up domains from Anguilla, population 15,000, looking to benefit from its .ai domain registration. 

At the same time, investors are pouring money into generative AI startups, hoping to catch lightning in a bottle and capitalize on this technology to find the next big tech breakthrough. As one AI investor recently told the New York Times, “We’re in that phase of the market where it’s, like, let 1,000 flowers bloom.” 

Today, the hype cycle is so hot that even companies without legitimate AI credentials are trying to align themselves with the technology, prompting the Federal Trade Commission to issue a terse warning to companies: “If you think you can get away with baseless claims that your product is AI-enabled, think again.”

The hype cycle can be so ludicrous that Axios reporter Felix Salmon recently explained, “When a company starts talking loudly about its AI abilities, the first question should always be: “Why is this company talking loudly about its AI abilities?”

To be sure, this isn’t the first rodeo for AI speculation. The technology is more than half a century old, and it’s been through many boom and bust cycles that yielded significant technological advances but have continually failed to fully live up to the hype. 

In other words, developing AI products and services that are repeatable, scalable and sellable has historically been difficult and often prohibitively expensive. However, by looking at the ways AI is already making the most significant impact, we can paint a clearer and possibly more accurate picture of what it will look like moving forward. 

Here are three ways AI is impacting our world today, which can provide a useful roadmap for how it might actually change the world tomorrow.  ...  '

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