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The hangover after the hype
The hype cycle ran its course and left a mess behind. Time to clean it up.


The hangover after the hype
We like change when we implement it. We hate it when it's forced upon us.
And thus the chasm between AI advocates and AI skeptics: a divide that may be the obvious byproduct of three relentless years of fear porn.
It echoes the Internet bubble of the late ‘90s, when breathless prophets insisted the Web would change…everything. Yes, the Web disrupted a sliver of the economy (farewell, travel agents and video stores), and created new industries (social media, Amazon, etc.). But for the vast majority of businesses it became what it was always destined to be: a powerful efficiency tool.
This past week, evidence mounted that AI is following a strikingly similar arc, leaving the hyperbole phase and entering a more rational one. For example:
AI and jobs: Job openings for software developers (the sector most exposed to AI disruption, by a factor) are actually growing. Companies believe they'll ship far more software now, driving demand for engineers to lead it.
AI and legacy tech: The SaaSpocalypse, it turns out, may have been greatly exaggerated. Many legacy enterprise tech firms aren't being destroyed by AI. As evidenced by blow-out numbers from Dell, Cisco, Nokia, and Snowflake, they're being powered by it.
Still, the fears persist. And here is the uncomfortable truth: we earned them.
Across the country, commencement speeches celebrating AI were met with the Bronx cheer. I understand the boos but don’t share the sentiment. Personally, I am envious of this generation of graduates. I was fortunate enough to enter the workforce at the dawn of the PC era (and the opportunities it provided), but the opportunity landscape grads are stepping into will dwarf it.
The true hurdle is a profound trust deficit that the tech sector built itself. While nearly three-quarters of AI experts expect a net-positive impact on our working lives, barely a quarter of Americans agree. This 50-point chasm is the inevitable hangover of relentless media fearmongering and corporate hype. Healing this divide won't happen through more data-free projections of some radically transformed future. It requires the slow, unglamorous accumulation of real-world results that quietly outlast the news cycle.
The pragmatic era has arrived. The hype cycle ran its course and left a mess behind. Time to clean it up.
















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