Why the AI euphoria is doomed to fail

Investors dropped $681 million into A.I.-centric startups in the Valley last year. This year the number would reach $1.2 billion. Five years ago total A.I. investment piked at roughly $150 million. This is how Silicon Valley works: when there is a new hype that seems to have investor trust everybody jumps on the train without asking any questions. No one asked: “Where does this train go?” The truth is — artificial intelligence does not exist yet and every single company pretending to have one is in most cases arrogantly re-selling an old concept of machine learning – a technology first introduced in 1959 that truly started to take off in the 90s. Cloud technology, big data and amazing search algorithms finally became the fuel for this rocket. Systems and services could self-improve thanks to insane amount of statistical data pouring…


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