The article is based on an interview with two AI experts, Bhagwan Chowdry and Anoop Kunchukuttan, conducted by The Hindu, about the development of AI. The amount of money being pumped into AI research is astounding – this year, it is $375 billion (₹37500 crores). Next year, it will be $500 billion (₹41,07,500 crores). The article questions the existence of a bubble based on this money-driven research. The bubble is something fragile and easily destroyed. Is it just investor enthusiasm, or is it something useful? The speakers compare this trend to the dot-com bubble, a late 1990s speculative boom driven by excitement over the Web, with internet companies' valuations soaring even without profits; it burst in 2000-2001 as funding dried up, causing stock crashes.
The AI bubble also follows the same trend – first there is hope, then there is hype, leading to a make-or-break scenario. There are many practical applications of AI, such as email spam classifiers, recommendation systems, speech recognition, translation, chat assistants, and, recently, highly autonomous agents. AI companies are working to make these tasks more efficient, error-free, and better. There is a lot of wild guessing and speculation about the future of AI-driven tools. Every AI tool must ensure reliability, trust, factual correctness, safety and common sense. The experts say that it is difficult to predict a timeline for the development of AI tools. ‘Research will take its own time. ’ What is happening today in the field of AI is based on speculation, and they are betting on 100 things of which 95 will fail. The companies that survive the AI race will change the world. AI is here to stay.
The success of AI will depend on how it handles science, for example, 3D modelling in biology or the discovery of proteins and drugs. Even mathematical research will be impacted by AI. Companies are investing heavily in these transformative areas. AI Winter is a period when AI research and development are paused due to a lack of funding. The focus of AI research should be on efficiency and competition. Only a few companies have realised financial gains from AI. This is the way technological advancements will work. A lot of experiments will fail. AI is already embedded in our lives, and the overall trend is forward-looking.
You can listen to the full interview, which is available as a podcast
https://open.spotify.com/episode/3EbiYlHfdcYRVdOiMm5b4V?si=414d81f5e6064c8d
References:
https://www.linkedin.com/in/bhagwanucla/
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