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Generative AI is sliding into the ‘trough of disillusionment’

ComputerWorld: “Market research firm Gartner [requires fee but this article sums up the report well] yesterday published its 2024 Hype Cycle for Emerging Technologies, and the study revealed that generative AI (genAI) has passed the “peak of inflated expectations” and is now sliding down into the “trough of disillusionment.”Along with genAI, AI-augmented software engineering is also heading down the slope, after passing its inflated expectations in markets, according to Gartner, whose Hype Cycle describes the hot ascent and eventual cooling off of technology adoption…Excitement around foundation models, such as Google Gemini, Anthropic Claude, Amazon Bedrock, and OpenAI GPT-4, is waning among enterprises as companies instead seek concrete returns on investment (ROI). These days, companies are more often than not deploying genAI only for use cases that drive ROI, according to Arun Chandrasekaran, a Gartner distinguished vice president analyst…”

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