However the tech wasn’t prepared, and the options it supposedly supplied have been typically misaligned with actual business issues. Firms tried all the things, from monitoring pet meals components on blockchain, to launching loyalty applications with crypto tokens, typically with out clear advantages or higher alternate options.
In the long run, about 90 per cent of enterprise blockchain options failed by mid-2019.
THE GENERATIVE AI DEJA VU
Quick-forward to 2023, and the identical sample began taking part in out with AI. Digital media firm BuzzFeed noticed its inventory soar greater than 100 per cent after asserting it will use AI to generate quizzes and content material. Monetary companies firm Klarna changed 700 staff with an AI chatbot, claiming it may deal with tens of millions of buyer queries.
The outcomes have been largely unfavorable. Klarna quickly noticed a decline in buyer satisfaction and needed to stroll again its technique, rehiring people for buyer help this 12 months. BuzzFeed’s AI content material push failed to save lots of its struggling enterprise, and its information division later shut down. Tech media firm CNET printed AI-generated articles riddled with errors, damaging its credibility.
These should not remoted incidents. They’re alerts that AI, like blockchain, was being over hyped.
WHY COMPANIES CHASE TECH HYPE
There are three important forces at play: inflated expectations, short-term view and flawed implementation. Tech firms, underneath stress from buyers and media narratives, overpromise what AI can do.
