ChatGPT Has Made The Tech Industry Chase Hype, But There Are Risks
ChatGPT Has Made The Tech Industry Chase Hype, But There Are Risks

ChatGPT Has Made The Tech Industry Chase Hype, But There Are Risks

There Are Dangers Lurking In The Generative Ai Explosion

It’s been less than a month since Microsoft (MSFT) introduced its new ChatGPT-powered Bing search engine and Edge browser, and it seems like every other tech giant is now officially hopping on the generative artificial intelligence hype train.

Snap is introducing an artificial intelligence chatbot to its platform, and Meta (META) is developing a new generative artificial intelligence team. Google (GOOG, GOOGL) is working on its own version of ChatGPT called Bard. Even Snapple, yes, that Snapple, is rolling out a generative A.I. version of its Snapple Facts. Spotify (SPOT) is getting in on the fun with a generative A.I.-powered DJ, and Snapple is rolling out a generative A.I. version of its Snapple Facts.

But the competition to be a part of the generative artificial intelligence party comes with its share of hazards, including the rollout of products that aren’t ready for prime time, which may leave customers with a negative impression of the newest must-have in technology.

“Consumers might expect and anticipate that there’s something dramatically new and different here,” explained Robert Seamans, associate professor of management and organizations at New York University’s Stern School of Business.

“And so you could imagine that either an underwhelming-ness effect or a fear effect leads to there being less demand than one of these companies would want for this product.”

The Danger Posed By Hyperbole Is Very Serious

The proliferation of information that is either grossly wrong or inexplicable is the most significant risk that is associated with businesses that are racing to become leaders in the field of generative AI. Take ChatGPT as an example; it is trained on data from the web, and while there is a lot of material that is correct on the internet, there is also a lot of content that is completely made up.

“I think it’s very possible that without the right restrictions, and guidelines, and sort of boundaries in place, these things can evolve to be probably very problematic in many concerning ways,” explained Edward McFowland III, assistant professor in the technology and operations management unit at Harvard Business School.

“What we have to make sure we’re doing again, those who are building them and those who are utilizing them in their products, is try to put those guardrails up.”

What happens when firms try to release chatbots before they are ready for the general public is something that we have already experienced. For example, Meta’s Galactica A.I. bot was intended to assist in summarizing scientific publications; nevertheless, it ended up producing incorrect material, and the business was forced to pull it back.

In a well-known move, Microsoft terminated its Twitter-based chatbot called Tay because it rapidly began making controversial comments that it had learnt through interacting with people on Twitter.

OpenAI CEO Sam Altman addresses members of the media on Tuesday, February 7, 2023, in Redmond, at the introduction of the integration of the Microsoft Bing search engine and Edge browser with OpenAI. Microsoft is incorporating technology that is similar to ChatGPT into its search engine Bing. This will change Bing, which is currently a distant second to Google in terms of internet services, into a new method of conversing with artificial intelligence. (Photo by Stephen Brashear for the AP)

The proliferation of hype around generative artificial intelligence may also result in consumers turning their backs on the technology if they are subjected to bad interactions with it or if it fails to impress them in some other way.

The type of artificial intelligence (AI) that powers ChatGPT is not exactly cutting edge. You can think of it as a feature that is even more advanced than the predictive text tool on your smartphone. You know, the one that always sends “duck” rather than, well, what it is that you actually mean to type.

Yet technology shares have been performing poorly over the course of the past year due to a plethora of macroeconomic headwinds, such as decreasing ad sales and dropping consumer demand for devices such as personal computers and cellphones. As a result of this, businesses are throwing themselves headfirst into the process of purchasing tickets on the generative artificial intelligence train.

ChatGPT Has Made The Tech Industry Chase Hype, But There Are Risks
ChatGPT Has Made The Tech Industry Chase Hype, But There Are Risks

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Explained Rajesh Kandaswamy, distinguished VP analyst at Gartner-

“The tech sector is down, suffering, and looking for some answer”

“This is one more element for them to try to make money, be in the limelight, and show their innovation.”

Kandaswamy believes it is telling that during the boom years, tech companies would focus on saying they are more interested in developing products for the long run, but now these same companies are elbowing each other out of the way to claim their stake in the generative artificial intelligence space.

It’s not as if these corporations haven’t been working on creating the technology in the background, either. A.I. development at Google has been going on for years, and the company has contributed to the creation of some of the most important aspects that make “generic pre-trained transformations,” also known as the GPT in ChatGPT, function well.

“They stopped investing in blockchain, they stopped investing in metaverse or whatever, and everybody’s chasing A.I. deals,” observed Ari Lightman, a professor of digital media and marketing at Carnegie Mellon University Heinz College. Lightman teaches in the college’s Heinz College. “Artificial intelligence has been there since the beginning of time, but all of a sudden, it’s trendy due of ChatGPT.”

In contrast to more ethereal technological trends such as the metaverse or one-offs such as NFTs, artificial intelligence also offers a concrete means of delivering new goods to businesses and consumers.

Almost every piece of technology that you interact with in the modern world uses some kind of artificial intelligence (AI), whether it’s Google Search, the reminder software on your iPhone, or your smart TV. There will be new applications for the technology, as well as advances, as businesses continue to put money into developing it, whether it’s generative or some other kind of artificial intelligence. As long as the hype train stays on the tracks and doesn’t derail.

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About Sam Houston 1811 Articles
Hello, I'm Sam Houston, and I'm proud to be a part of the team as a content writer. My journey into journalism has been quite an exciting ride, and it all began with a background in content creation. My roots as a content writer have equipped me with the essential skills needed to craft engaging narratives and convey information effectively. This background proved invaluable when I decided to make the transition into journalism. The transition allowed me to channel my storytelling abilities into producing news articles that not only inform but also captivate our readers.

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