The Open AI Revolution: What Flipped the Coin?

Lucky Nkosi, head of of BBD's ATC team shares insights on AI's evolution from closed research to public accessibility, exploring how we've moved past the peak of the AI hype cycle into the trough of disillusionment.• OpenAI's release of ChatGPT marked a pivotal moment in AI adoption, reaching millions of users while validating their models• Microsoft's billion-dollar investment in OpenAI was strategic, with the money returning to Microsoft through compute costs on Azure• We're now past the peak of the AI hype cycle, with studies showing 93% of enterprise AI projects failing completely• Heading into the "trough of disillusionment" means many AI investments will prove fruitless, requiring more responsible approaches• The "time filter" framework helps identify valuable AI applications by asking: Do I need to do this task? Can I automate it? Can I delegate it?• AI technologies are non-deterministic by nature, making them challenging to integrate with deterministic systems like financial services• Hardware remains the ultimate frontier for AI impact, as "what truly matters is what you can impact in the physical world"• BBD helps companies navigate AI by filtering through the noise and conducting rapid R&D to identify practical solutions