Julia Somlo
Over the past few years, AI has skyrocketed from something seen in science fiction and labs at midnight to useful tools used for daily life. How have investors been impacted? Some say, not so much.
According to data obtained from CNBC, most of the funding being funneled into AI has come from countries with oil surpluses such as Qatar, the United Arab Emirates, and Saudi Arabia. These countries have increased their investments in AI technologies, especially after the surge of interest following ChatGPT’s release in 2023. One standout player in the region is G42, a Middle Eastern technology company that partnered with OpenAI. By combining its own tools with ChatGPT’s capabilities, G42 developed a large language model that has gained commercial success and is now in widespread use around the world.
However, not all investments to companies nor partnerships appreciated immensely. Most companies, according to CNN, have lost more to AI investments than actual gain due to the thrill around AI, thereby suggesting a downturn in the Generative AI industry in years to come, and possibly a shift to a more practical tool in the future such as AI agents to manage call centers for companies.
However, right now ChatGPT is still widely used and will most likely be used by us to change the world for the better. From training cancer detection software in hospitals to teaching students math in the classroom tool Khanmigo, multiple variations are out there and will be used by all walks of life to improve life for everyone.
Sources:
https://www.cnn.com/2024/08/02/tech/wall-street-asks-big-tech-will-ai-ever-make-money/index.html
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