Once hailed as a business panacea, artificial intelligence now faces calls for stricter oversight amid growing concerns about its unchecked application.
The AI Hype Cycle
Not long ago, artificial intelligence was presented as a panacea for nearly all business problems. It promised to rapidly and effortlessly transform companies into smoothly functioning “perpetuum mobiles.” Implementing a tool, connecting data, and letting algorithms run was all that was required.
This stage of enthusiasm and naive expectations is now behind us.
Expectations vs. Reality
Discrepancies between the anticipated capabilities of AI and its actual performance are becoming increasingly apparent.
