The Hype, Hope, and Reality of AI
The Hype, Hope, and Reality of AI
Careful about conflating the stocks with the technology
There's no question that AI has been and will continue to impact much of what we do and how we do it...
It's still early innings, as they say...
Yet Wall Street being Wall Street, there's a tendency to lump everything together – creating a fear of missing out – and then overdo it.
Like AI, as if it's something new.
It's not. "Old AI," as you might call it, has been around and evolving for decades. As one friend who is a longtime observer and investor of the tech investing scene puts it...
There is the AI you don't see, but that has been in production for years... the "IT infrastructure stuff," for lack of a better term. That has been proceeding at a standard evolutionary tech pace.
Largely without fanfare, old AI has been organically integrated into all aspects of whatever industry you can think of. Think of it as a key component automation.
What is new is generative AI – chatbots like ChatGPT from OpenAI and Bard from Alphabet's (GOOGL) Google...
As my tech-savvy friend explai…