Trends

Is AI boom over? There may be ‘boom-bust-boom’ curve

AuthorZora Lin

Reading Time3 min

PublishedJuly 10, 2024

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Headline

Context

We are currently in the third wave of AI development. In the near future, human society will gradually enter the stage of strong artificial intelligence. Strong AI, also known as Artificial General Intelligence (AGI), refers to machine intelligence that can self-perceive and understand the external world, constantly self-learn new knowledge and achieve self-upgrading. AI has profoundly changed many aspects of our lives, such as AlphaGo , AI delivery , and food delivery machines. But at the same time, the AI hype has led to a lot of failed investments. Investing in core AI platforms is extremely expensive, and there may end up being a few winners and a lot of losers.

Evidence

Pending intelligence enrichment.

Analysis

At this point, a variety of professional services will emerge to help businesses use AI to become smarter and leaner, enabling AI to flourish once again. Most of the companies that went public during the dot-com boom are a distant memory, but the internet has become part of the air we breathe. As a result, says Drew Bernstein , co-founder of Asia Accounting Firm, “AI will have a similar boom-bust-boom curve.” This is also the transition route from weak artificial intelligence to strong artificial intelligence. Also read: SG minister calls for AI framework to avoid ‘chaotic’ future Also read: AI investor relations officer will ‘enhance task efficiency and strengthen corporate branding’

Key Points

In the “boom – crash – boom” curve of AI, there will be a transition from weak artificial intelligence to strong AI.
Strong AI is capable of understanding and solving more complex, abstract problems, with cognitive and reasoning abilities closer to human intelligence.