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The initial excitement surrounding generative AI, sparked by the launch of ChatGPT, has waned significantly. Predictions of a transformative impact on industries have not materialized, with many projects, including McDonald's drive-through automation, failing spectacularly. The Gartner hype cycle illustrates this trajectory, showing that most generative AI technologies are still years away from full productivity.
Despite the challenges, generative AI is improving, driven by advancements in model size and data utilization. Companies like Microsoft and Apple continue to invest heavily, while Nvidia has emerged as a major beneficiary, becoming the most valuable public company. The future of AI adoption appears to focus on enhancing human capabilities rather than outright replacement, indicating a gradual evolution in its application.
• Generative AI projects face high failure rates, with 80% not succeeding.
• Nvidia's valuation tripled, making it the most valuable public company.
The article discusses how generative AI has not yet transformed business as expected.
The article uses the Gartner hype cycle to explain the current state of generative AI.
The article highlights the limitations and unexpected capabilities of models like GPT-4.
Nvidia's stock surged, making it the most valuable public company due to the generative AI boom.
OpenAI's release of smaller models reflects a shift towards more efficient AI solutions.
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