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Tech hypes come and go – AI’s in, metaverse’s out

April 2023
Not so long ago all the hype was about the metaverse.

Facebook, which owns Instagram, changed its legal name to Meta while other companies created job positions with titles such as chief metaverse officer.

That metaverse excitement has now vanished.

Another example is crypto, blockchain and NFTs. There was a point when everyone was talking about it, including Kim Kardashian and real-life Wolf of Wall Street Jordan Belfort. That’s quieted down.

Now, thanks to ChatGPT, AI has become all the hype. Biggies like Microsoft and Google are trying to make money out of it. Students are using it to boost grades and teachers are stressing out about potential cheaters.

Entrepreneurs are quick to catch on the latest hype and try to get cash for it. For example, they’ve recently created more than 100 new cryptocurrencies using ChatGPT in their name, reports The Economist.

so what
Riding on a new hype can bring in cash initially but may be risky as a long-term business strategy. History has shown that things may not turn out to be as good as they were initially hyped up.

Reference shelf:
The uses and abuses of hype (The Economist)

Amid AI hype, tech companies are taking a step back from the metaverse (NPR)

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