Amid Mainstream Boom, AI Skeptics Say the Tech is Overhyped

Artificial intelligence (AI) tools have officially gone mainstream in 2023, according to a survey by Retool. But don’t get too carried away with the hype just yet, because most professionals still consider AI to be overhyped. It seems that while AI has become a household name, it hasn’t quite lived up to all the lofty expectations.

The survey found that AI chatbots are being used by everyone from teachers to grandparents, but these real-world applications only scratch the surface of what AI can do. Respondents agreed that AI will transform their industries and jobs within the next five years, with expectations centered around efficiency gains, less boring work, new skills to learn, and updated design processes. However, they also want assurances that AI will develop safely and ethically.

In an interesting turn of events, engineers are relying less on the popular programming site Stack Overflow for help, thanks to the rise of GitHub Copilot and ChatGPT. These AI tools have become the go-to resources for coding assistance.
When it comes to hiring, companies are somewhat open to candidates with AI coding skills, although small startups are more enthusiastic than mid-size enterprises. However, about 30% of respondents remain neutral on the topic, neither viewing AI coding skills as positive nor negative.

So why are businesses so eager to pursue AI? It seems cost savings and trendiness are the main drivers, rather than direct revenue impact. Companies see AI as a way to trim expenses and stay ahead of the competition.

Of course, AI tools are not perfect. Users rate them as useful but acknowledge problems with accuracy, data security, and even hallucinations. But understanding these shortcomings can help users make the most of AI technology.

In terms of market dominance, OpenAI’s natural language offerings, particularly ChatGPT, are leading the way. Most companies prefer off-the-shelf AI models over customization, although self-hosting open-source algorithms is still relatively rare.
All in all, AI is making waves, but it hasn’t quite reached its full potential. As the technology continues to evolve, we can expect to see more exciting developments and, hopefully, fewer hallucinations.