Many of the artificial intelligence projects are worthless

“Bert Taylor”, Head of the OpenAI Board of DirectorsIn his most recent talk Artificial Intelligence With Dotcom’s era In the late 1990s, it compared and warned investors and enthusiasts about the low -cost projects that have been taken into consideration with advertising.

During the Dotcom era, the stock market had reached an unprecedented peak with the advent of digital -based companies, but eventually its bubbles and companies such as Webvan And etoys.com They went bankrupt. However, companies like Amazon And ebay They were able to overcome the crisis and are now technology giants. Taylor believes that experience of that era could provide a useful view of the current state of the artificial intelligence market.

He explained in the “ACQ2” podcast:

“When you say Dotcom, people remember the failures. But if you look at the S&P 500 index and measure the value created by companies, it can be said that almost all the excitement and enthusiasm of that era was justified. “

The boom of artificial intelligence similar to the Dotcom era has now affected the market. Investors invest billions of dollars in AI startups, and large technology companies have allocated tens of billions of dollars for infrastructure, talent and artificial intelligence investments. Even Nvidia used the growth of artificial intelligence to become the first company of $ 4 trillion.

Taylor Warning: Many current artificial intelligence projects are low -cost

Taylor said of the current state of artificial intelligence:

«A lot of projects like now Snake oil They are. “

“Snake oil” is a term in the field of marketing used to describe deceptive marketing and fraud. In fact, he has warned investors that there are also low -cost projects among artificial startups that have attracted the attention of investors solely on the basis of noise and advertising.

However, he believes that there have been real successes in this area as well. Taylor to ChatGPT rapid growth He pointed out that just two months after its application reached 100 million users and dominated AppStore charts. He also from companies operating in B2B software, such as LovableAs examples of the real value of the ecosystem of artificial intelligence.

Sam Altman, CEO of Openai, recently confessed in a new interview that the artificial intelligence market is currently in a “bubble”. In an interview with the reporter, he said that we are now at a stage where investors are generally excited about AI.