Startup forecasts, valuations and capital requirements are all largely driven by the founders’ and their backers’ views on the future scale of the opportunity at hand. If the opportunity is vast and unprecedented, it is likely to attract investment to match that… I believe that artificial intelligence is one such opportunity, and that – if a ‘hype cycle’ is your preferred way of gauging new technologies – we are in fact still quite far from the “peak of inflated expectations”.
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