By Gavin Boyle
Is AI’s dominance faltering? Though the tech’s influence has skyrocketed for the last three years, its inability to produce real results could put its future in jeopardy.
“Someone is going to lose a phenomenal amount of money,” OpenAI CEO and founder Sam Altman said earlier this month when discussing the near future of AI. “We don’t know who, and a lot of people are going to make a phenomenal amount of money. My personal belief, although I may turn out to be wrong, is that, on the whole, this would be a huge net win for the economy.”
“When bubbles happen, smart people get overexcited about a kernel of truth,” he added. “If you look at most of the bubbles in history, like the tech bubble, there was a real thing. Tech was really important. The internet was a really big deal. People got overexcited.”
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While Altman ultimately believes his company will continue to be the premiere AI provider, as it has been since it started the craze at the end of 2022, OpenAI’s future is less clear now than in the past. In March, the platform added millions of users in hours after releasing an updated image generation tool that went viral. However, in the months since, enthusiasm for ChatGPT has waned due to multiple disappointing releases.
Earlier this summer, a new version of ChatGPT released that was much more agreeable than iterations of the past. That made it less useful for users looking for real feedback — and in some cases, dangerous.
“It would tell him everything he said was beautiful, cosmic, groundbreaking,” a woman told Rolling Stone, explaining how AI caused her husband to go insane. “Then he started telling me he made his AI self-aware and that it was teaching him how to talk to God, or sometimes that the bot was God — and then that he himself was God.”
Furthermore, the role of AI in the corporate world is becoming more questionable as a new MIT study revealed that 95% of businesses attempting to integrate AI into its workflow to increase revenue have failed to generate significant additional revenue.
It may take decades before AI is truly ubiquitous across the corporate world and even in personal lives. Other companies are struggling as well, like Apple who has failed to deliver its AI-updated Siri, and Microsoft, whose latest release for CoPilot was pushed back due to a lack of innovation. While AI still appears to be the future, Wall Street is becoming impatient with its lack of returns.
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