The Generative AI Hype Cycle
The impact of Generative AI on the industry remains a topic of debate, with researchers undecided on whether it will bring about transformative change or merely incremental advancements. However, executives maintain a positive outlook, with 78% optimistic about Generative AI's potential business value. Although there are inherent risks, established mitigation strategies are in place. Despite being nascent, 55% of companies are exploring Generative AI through pilot programs or have already begun using it in production. Generative AI is currently navigating the initial phases of the hype cycle and is expected to experience a phase of disillusionment before achieving full maturity. The Generative AI domain is diverse, encompassing an array of models, tools, applications, and infrastructure, supported by substantial investment from major tech companies and a burgeoning startup scene.
