Business locked in expensive AI 'arms race'
Business locked in expensive AI 'arms race'
Business locked in expensive AI 'arms race'
The current AI arms race in the business world is being fueled by a potent combination of fear and greed, as highlighted by industry analyst Jon Collins. The race was triggered by the launch of ChatGPT at the end of 2022, leading to the emergence of numerous generative AI systems that are now widely used for creating artwork, text, and video. These systems have the potential to process vast amounts of data in minutes, a task that would take humans several lifetimes to accomplish. This has made business leaders acutely aware of the possibilities that AI presents, creating a sense of urgency and momentum. The intense competition has led to an avalanche of investment in AI technology, driven by the desire to gain a competitive edge and capitalize on the potential benefits.
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"The race was sparked by the launch of ChatGPT at the end of 2022, leading to the emergence of numerous generative AI systems that are now widely used for creating artwork, text, and video."
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"This has made business leaders acutely aware of the possibilities that AI presents, creating a sense of urgency and momentum."
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