A New, Fascinating Development In Artificial Intelligence (AI) Proving What I Have Been Saying

Artificial Intelligence (AI) has been the center of conversations in Business for over a year now.

Now, I'm not Anti-AI, I can see how it could be positively used.

However, I have vehemently been saying, for over a year now, how it is "Extremely" Overhyped.

I guess you could say that I'm an AI Realist.

Some people believe that AI will be our Doom and the Destruction of Humanity!

I think that is just Technophobia that comes with nearly any major new Technology.

On the other end of the spectrum, some people believe that AI will be the only thing that Saves Humanity from Itself!

The Reality is that AI is "Not" going to Save Leaders from the Plethora of Problems they are Currently Experiencing.

There is something funny that I think is possible with AI, though, when it comes to Leadership.

I believe that it is very likely AI could replace CEOs.

However, that has nothing to do with AI's Capabilities, which are extremely limited in a Leadership Capacity.

Rather, it is a Testament to how Ineffective Most CEOs are.

At the end of the day, even though there are some great use cases for AI, most of what people Believe and Claim around it doesn't match Reality.

I'm also not the only one who believes this!

There is so much Overhype around AI that now the SEC is stepping in.

That is Right!

The U.S. Securities and Exchange Commission, an independent agency of the US Federal Government, is also tired of the Claims around AI.

SEC Chair Gary Gensler put a nice term to what is happening.

AI Washing.

Essentially, it is when Companies create False Buzz and Manipulate Investors by:

• Being Misleading about the Capabilities, Limitations, and Risks of their AI Products
• Lying about How and When they're using AI

Is this a common occurrence?

Apparently, 36% of the S&P 500 Companies discussed AI in the Q4 Earnings Reports.

Most of those companies have nothing to do with AI, and what they Claimed about AI was often Nebulous, or talked about a "Future" that will likely never come.

Why are all of these companies discussing AI?

To make Investors "think" that AI will accomplish... "something" Amazing when there just isn't any evidence of it being True.

The SEC has even started to Fine companies they have determined have pushed too far.

Delphia was fined $225k for false claims, and Global Predictions was fined $175k.

However, we aren't just seeing Companies getting fined, we are also seeing AI Companies dropping off the map completely.

Part of it, of course, is the Category King/Queen Effect, where on average 75% of the market tends to go to one company.

In this case ChatGPT.

However, a larger problem for these AI Companies is that AI simply can't do that much.

These companies were inevitably going to Fail.

AI Technology just can't do what people are trying to get it to do.

When you combine this with other AI Problems, it could mean that more AI companies will be facing a Reckoning.

There is of course the AI Junk problem, where what AI is producing is quite literally Junk that is filling up the Internet like a Landfill.

Some experts believe that AI Junk has already exceeded 50% of all content online.

You also have the Problem where AI may not become feasible if it is not allowed to "Steal" Copyrighted Work.

It seems most people who have their Work Copyrighted are not interested in Giving it Away for Free without Protections, which could severely limit AI's Potential, or make it Unfeasible.

Big "Surprise" there.

Then, there is also another problem with Fake AI Engagement, which could push AI Content on Social Media Platforms instead of Real Content.

I recently wrote an article about an Experiment on LinkedIn that I conducted around AI Engagement, and it turned out "Exactly" as I imagined.

This will lead to people being surrounded by AI Junk and Engagement constantly, which will not go over well on platforms that are "supposed" to be "Social".

All of this is to say that things are not looking great for AI companies.

Especially when you add AI Washing to the list.

Now, again I'm an AI Realist.

I don't think this Technology is going to Disappear.

A few companies have had Positive Results with what is "actually" in AI's Capabilities.

ChatGPT will likely remain the Category King/Queen and we'll see a few others last through the coming Reckoning.

Then, at the end of the day, Humans will still be needed to solve the Human Problems we have.