AI tech boom: Is the artificial intelligence market already saturated?
From voice assistants to algorithms predicting global market trends, artificial intelligence (AI) is seeing explosive growth. But as with any emerging technology, there comes a point where innovation risks giving way to oversaturation.
The rapid proliferation of AI tools and solutions in recent months has ignited discussions among industry experts and investors alike. Are we witnessing the zenith of AI’s golden age, or are we on the precipice of a market saturated beyond capacity?
The tech landscape has always been dynamic, with innovations often outpacing the market’s ability to adapt.
The late 1990s saw the dot-com bubble, a period marked by exuberant optimism around internet-based companies. Startups with little more than a web presence achieved staggering valuations, only for many to crash spectacularly when the bubble burst.
In 2017, the world witnessed a surge in initial coin offerings (ICOs), a fundraising method where new cryptocurrency projects sold their underlying tokens to investors.
This period was marked by immense enthusiasm for the potential of blockchain and decentralized technologies. However, excitement often overshadowed the practicality and viability of many projects.
As a result, investments were made in ventures that either had limited real-world applications or, in some cases, no genuine ties to cryptocurrency whatsoever.
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A notable example was during 2017’s “blockchain naming” trend with the company previously known as “Long Island Iced Tea Corp.” The company made soft drinks and had little to do with blockchain. In a bid to capitalize on the blockchain hype, the company rebranded itself as “Long Blockchain Corp.”
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