Despite skepticism about AI’s future, tech companies predict AI will continue to explode [Video]

Despite skepticism about AI’s future, tech companies predict AI will continue to explode

To get a sense of how the AI market will grow in the near future, Verbit analyzed financial research and recent data on trends surrounding the technology.

Despite skepticism about AI’s future, tech companies predict AI will continue to explode

“During a gold rush, sell shovels.”

That saying—popular today among startups and investors—started after the California gold rush in the mid-1800s when those making the most money were the suppliers selling shovels and picks, not the gold-panners themselves. Today, it refers to profiting off the supplies, technology, or infrastructure needed by the millions of people trying to access or leverage a particular asset.

ChatGPT set off a new sort of gold rush—the artificial intelligence boom—in November 2022 when OpenAI launched the technology. Tech giants (the gold-panners in this metaphor) have since poured billions (and counting) into building AI systems for the masses while scrambling …

Tags AI Tech, AI Technology, Technology