It’s been a huge year for generative AI. You just have to look at the number of products now claiming to have baked-in generative AI, or the swathes of companies eagerly finding ways to implement the technology to realise the effect it is having on the world.
ChatGPT, perhaps the best-known example of generative AI, now boasts an estimated user base of over one billion – no mean feat for a technology that only launched in November 2022.
And just last month, in Gartner’s annual ‘Hype Cycle for Emerging Technologies’ report, generative AI unsurprisingly topped the hype cycle in the 2023 report, reaching the ‘peak of inflated expectations’ for the first time.
The excitement around this technology is warranted. It has the potential to transform and revolutionise how businesses run. However, investors need to be cautious....