Which of course wasn’t the case…
Exactly, that’s when the Internet actually started to impact our lives. The situation is similar with AI. If there is a bubble that could burst, it is primarily on the financing side. Because in my opinion, many of the investments made over the past twelve months will not work. This is not that unusual because AI technology is still in a very early phase. In this situation, more investments tend to fail because the assessment options and evaluation standards for start-ups are much more difficult at the beginning. Therefore, some AI companies will also go bankrupt, which is a normal development.
It is undisputed that there is hype around the topic of generative AI. At the same time, rarely has a technology found its way into corporate applications so quickly, see for example the Copilot at Microsoft Office or various self-developed chatbots in companies such as BoschGPT. Doesn’t that show that there is already substance here?
Yes absolutely. I think there is actually a huge difference to the comparable point in the development of the Internet: Today the technological infrastructure is already there so that this technology already works very well. An important reason for the Internet bubble was that the technology was still not sufficiently mature at the time – which meant that too few marketable products could be created. That’s different today.