The premise is true, but I disagree with the conclusion. There are many companies with outsized valuations, and few will ultimately survive. The valuations of these companies will go down; there clearly is no way the market can handle it all.
But the revenue going into AI will not go down. The job loss will not go down. What you're seeing isn't AI being an empty promise, but rather many different people trying to win the market.
It's like "tech"... 20 years ago, there was a category of companies we called tech and it was getting outsized valuations. Now every company is a tech company, whatever that means – there's as many programmers at Goldman Sachs or Walmart as there are at Airbnb or Dropbox.
Agree with you on this. I work for a large company with a number of different brands, mostly sporting goods.
IT has been the biggest winner of the AI wave, as it's allowing us to suddenly start delivering on asks from the business that previously would have been deemed impossible/impractical with our resources.
Comments
The premise is true, but I disagree with the conclusion. There are many companies with outsized valuations, and few will ultimately survive. The valuations of these companies will go down; there clearly is no way the market can handle it all.
But the revenue going into AI will not go down. The job loss will not go down. What you're seeing isn't AI being an empty promise, but rather many different people trying to win the market.
It's like "tech"... 20 years ago, there was a category of companies we called tech and it was getting outsized valuations. Now every company is a tech company, whatever that means – there's as many programmers at Goldman Sachs or Walmart as there are at Airbnb or Dropbox.
Agree with you on this. I work for a large company with a number of different brands, mostly sporting goods.
IT has been the biggest winner of the AI wave, as it's allowing us to suddenly start delivering on asks from the business that previously would have been deemed impossible/impractical with our resources.