The adoption of artificial intelligence (AI) as a practical tool is far outweighed by overinflated hype around it. The trending topic of AI is being driven by pundits with seemingly minute-by-minute hot takes, advice and products to sell.
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However, as the AI bandwagon picks up pace, there is an urgent need for a more thoughtful, independent conversation about preparing for a new reality.
The Microsoft/LinkedIn 2024 Annual Work Trend Index trumpets aggressive conclusions such as “Employees want AI at work and won’t wait for companies to catch up”. However, Pew Research Centre found that 52 per cent of employees are worried about AI; 33 per cent feel overwhelmed by it. These incongruous conclusions seem to reflect who is telling the story.
The scale, intensity and potential distortions of the bandwagon effect are of concern, leading some pundits to urge Hong Kong policymakers to be wary of it.
Markets have also reacted wildly to AI hype. Exceptionally high valuations are now not “leaving much margin for error” in the US and China, a fund manager told Bloomberg. Adding to the AI extravaganza are its geopolitical dimensions, which have led to extraordinary events such as the US government taking a stake in struggling chipmaker Intel. Meanwhile, China is quickly pivoting away from US technology.
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China creates analogue AI chip said to be 1,000 times faster than Nvidia GPU
China creates analogue AI chip said to be 1,000 times faster than Nvidia GPU
The AI whiplash has been something to behold, even as massive bets on its future continue. Although the result of the AI transformation remains unknown, there are quite a few definitive assertions about what humans must do to survive and prosper in this confusing new world.