The AI Wave

The AI Wave

In 1995 the internet was becoming commercially available, marking a significant shift in how businesses and consumers interacted with technology. Bill Gates referred to this 1995 period as an "Internet Tidal Wave," recognizing its potential to transform every aspect of Microsoft's business (which it did). The internet's commercialization led to the dot-com boom, where businesses rapidly adopted internet technologies, leading to a surge in online services and e-commerce. What business today doesn’t rely heavily on the internet?

The AI wave of 2024 is likened to the internet wave of 1995 due to its likelihood of revolutionizing industries and society at large. Satya Nadella, CEO of Microsoft, has compared the impact of AI to the internet revolution, suggesting that AI is poised to have a major impact on society. Dan Ives has called the 2024 AI wave a “1995 moment”. AI technologies, such as large language models (LLMs), are expected to be integrated into most software applications, changing the way we interact with technology. Industries such as healthcare, automotive, financial services, technology, entertainment, etc. are predicted to be transformed by AI relatively quickly.

Comparison and Impact on Industries

Both the internet wave and the AI wave represent pivotal moments in technological advancement with widespread implications for industries. The internet wave connected people and businesses globally, leading to new forms of communication, commerce, and information sharing. Similarly, the AI wave is expected to automate and enhance decision-making processes, create new e^iciencies, and enable the development of innovative new businesses, products, and services.

The integration of AI into everyday software will likely change the nature of work, enhance productivity, and lead to the creation of new job categories. Just as the internet wave led to the creation of web development and online marketing roles, the AI wave may lead to a demand for AI ethicists, data scientists, and machine learning engineers.

Google's comparison of the AI wave to the invention of electricity highlights the transformative and foundational nature of AI. Electricity revolutionized industries by powering machines and enabling mass production. Similarly, AI is expected to be a foundational technology that will power new applications and business models across all sectors.

Both the internet wave and the AI wave represent pivotal moments in technological advancement with widespread implications for all industries.

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