'The current climate in AI has so many parallels to 2021 web3 it's making me uncomfortable.'
— the industry has absolutely exploded, as these generative tools and others, notably the image-generating systems Stable Diffusion and Midjourney, have dazzled investment firms and the broader public alike.
"Generative AI is well on the way to becoming not just faster and cheaper, but better in some cases than what humans create by hand,"by top investment firm Sequoia Capital, published September 2022. "If we allow ourselves to dream multiple decades out, then it's easy to imagine a future where Generative AI is deeply embedded in how we work, create and play."
But despite the hefty amount of investment cash — an estimated $1.37 billion across 78 deals in 2022 alone,— that VCs are throwing at generative AI companies, not everyone in the field is convinced that these generative machines are really the Earth-shifting force that both creators and investors believe them to be.
"The current climate in AI has so many parallels to 2021 web3 it's making me uncomfortable," François Chollet, an influential deep learning researcher at Google and the creator of the deep learning system Keras, wrote in aIn other words, Chollet is arguing that in eerily similar fashion to the blockchain bubble, hype — as opposed to firm data and proven results — is in the industry driving seat.
"Everyone is expecting as a sure thing 'civilization-altering' impact in the next 2-3 years," he continued. "Personally I think there's a bull case and bear case. The bull case is way way more conservative than what the median person on my TL considers as completely self-evident.", he believes, is that "generative AI becomes a widespread [user experience] paradigm for interacting with most tech products.
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