The AI Hype Cycle Is Distracting Companies

The hype around artificial intelligence is distracting companies from practical machine learning projects that can create real value. While new AI technologies are impressive, most current ML applications should simply be called ML, not AI, as that term implies capabilities beyond what the technology can actually do. Referring to all ML projects as AI oversells their abilities and contributes to high failure rates. For most projects, AI is an overblown buzzword that does not accurately represent the technology if it does not mean artificial general intelligence. The hype and narratives around emerging AI, exemplified by tools like ChatGPT, have made the buzzword AI a growing problem as it inflates expectations for what ML can actually achieve for businesses.