Big Tech Investors Have Drunk the AI Kool-Aid

Since 100% of the conversations I have on a given day turn to artificial intelligence, I can’t stop thinking about the new technology, the new business models around it and how regulators will respond. And if I am being honest with myself, the answer to most of the questions that come up in these conversations is that I simply have no idea how this will all play out. 

Apparently, investors don’t either. 

If you look at the run-ups in stock prices of Alphabet, Meta Platforms and Microsoft of late, it is clear that investors are just hoping, betting and maybe praying a little that AI will help these tech companies in the long run. And they are probably not wrong. Yet there doesn’t seem to be much firm evidence to justify their mood.