Wall Street to Silicon Valley: “Show Me the AI Money”
Earlier this year, we discussed how we were entering a new phase of AI mania in which more attention would be given to products and competition. The idea that a higher AI tide would lift all boats would become more nuanced. Wall Street, referring to a collection of different market participants, had given their OK to aggressive capex projections in exchange for this greater focus on product, and presumably, revenue and profit.
Due to ongoing questions on the product front combined with signs of some management teams possibly becoming intoxicated with AI mania, Wall Street appears far less willing to give Big Tech a financial pass.
In looking back over the past few months, we see that AI products have indeed received more attention. In addition, there has been a more serious discussion regarding competition. While there is evidence of text-based chatbots and generative media finding their way into the mass market, it’s been far short of transformational change.
Scattered AI-generated content like event fliers and fundraiser notices are appearing on social media feeds, pointing to growing casual usage of generative media models.
Many writing verticals have been infiltrated by AI assistants and text chatbots. It didn’t take long for education to fall victim to the creative writing killer.
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