"Since ChatGPT first graced us with its presence, the proclamations have only gotten bigger and bolder. At this point, every convo about AI is almost like a Mad Lib: "INDUSTRY is going to get upended by generative AI. At least SHOCKINGLY HIGH PERCENTAGE of jobs will be lost. It's not worth it anymore for kids to get INDUSTRY-RELEVANT DEGREE when all the robots will be doing the work. It's time to get a job as a BLUE-COLLAR JOB.""
"Three years later, things haven't always panned out as some have predicted. Sure, there have been job disruptions. But generating dollar signs from leveraging AI has been a tougher nut to crack. A recent study published by MIT reported that only 5% of the companies it studied converted AI into actual revenue. So are the AI absolutists screwed? Short answer: No. Like previous tech developments, AI's hype is just surpassing its reality. It shouldn't come as a surprise."
AI expectations have often exceeded practical outcomes, placing the technology in a so-called "meh" era. Early enthusiasm after ChatGPT produced bold predictions of industry-wide upheaval and mass job loss. Three years on, some disruptions occurred but many forecasts did not materialize. Converting AI work into revenue has proven difficult: an MIT study found only 5% of companies converted AI into actual revenue. Companies continue to make large promises to attract investment while development proceeds. Progress is ongoing, adoption is gradual, and AI is still likely to change workflows even if monetization remains challenging.
Read at Business Insider
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