Fear of missing out has rocketed the value of artificial intelligence companies, despite few signs as to when the technology will turn a profit, raising talk of AI overenthusiasm.
The mystery deepens when it comes to predicting which generative AI firms will prevail, according to analysts interviewed by AFP.
ChatGPT-maker OpenAI secured $6.6 billion in a funding round that propelled its valuation to an eye-popping $157 billion, sparking new worries there is an AI bubble poised to burst.
“We are in the bubble where all the vendors are running around saying you have to deploy it as the latest digital transformation move,” independent tech analyst Rob Enderle of Enderle Group said of generative AI.
“I expect this ugly phase for the next two to three years, but then things should settle.”
To the critics, buyers don’t really understand the technology, and the market needed for it to thrive is not …