AI hype is as bad as crypto

Stefan Mileschin · 3rd April 2024, 07:53

DeepMind co-founder warns against the gold rush mentality

Sir Demis Hassabis, co-founder of DeepMind, has warned that the rush to throw cash at artificial intelligence has left the industry drowning in crypto-like hysteria.

Speaking to the Financial Times, the head honcho of Google’s AI arm slammed the billions flooding into AI start-ups, branding it a "whole attendant bunch of hype and maybe some grifting."

He added: "Some of that has now spilt over into AI, which I think is unfortunate. And it clouds the science and the research, which is phenomenal."

Hassabis's comments follow OpenAI's ChatGPT launch, which triggered a feeding frenzy among investors scrambling to invest in generative AI projects. Venture capitalists splurged a staggering €42.64 billion in 2,500 AI start-ups last year alone.

But it's not just private investors getting in on the action. Public market punters are flocking to tech giants like Microsoft, Alphabet, and Nvidia, fuelling a market surge unseen in five years.

https://fudzilla.com/news/58732-ai-h...-bad-as-crypto

3rd April 2024, 07:53	#1
Stefan Mileschin [M] Reviewer Join Date: May 2010 Location: Romania Posts: 148,738	AI hype is as bad as crypto DeepMind co-founder warns against the gold rush mentality Sir Demis Hassabis, co-founder of DeepMind, has warned that the rush to throw cash at artificial intelligence has left the industry drowning in crypto-like hysteria. Speaking to the Financial Times, the head honcho of Google’s AI arm slammed the billions flooding into AI start-ups, branding it a "whole attendant bunch of hype and maybe some grifting." He added: "Some of that has now spilt over into AI, which I think is unfortunate. And it clouds the science and the research, which is phenomenal." Hassabis's comments follow OpenAI's ChatGPT launch, which triggered a feeding frenzy among investors scrambling to invest in generative AI projects. Venture capitalists splurged a staggering €42.64 billion in 2,500 AI start-ups last year alone. But it's not just private investors getting in on the action. Public market punters are flocking to tech giants like Microsoft, Alphabet, and Nvidia, fuelling a market surge unseen in five years. https://fudzilla.com/news/58732-ai-h...-bad-as-crypto

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