📰 The AI Hype: Déjà Vu from the Blockchain Boom
Flashback to 2017: blockchain was the tech darling everyone swore would revolutionize everything. Companies slapped "blockchain" onto their names, stocks soared sky-high, but actual adoption? Meh. Fast-forward to 2025, and AI’s glitz and glam feel suspiciously similar.
From AI-generated art flooding your feed to CEOs trumpeting “AI-first” strategies, the excitement is real. But if you’re thinking, “Hmm, this sounds like the blockchain story all over again,” you’re spot on.
💡 What’s This Hype Cycle Anyway?
Think of the tech hype cycle, courtesy of Gartner, as a rollercoaster ride:
- Innovation Trigger: The tech appears dazzling and promising.
- Peak of Inflated Expectations: Everyone’s hyped, investments flood in, and headlines explode.
- Trough of Disillusionment: Reality bites, tech falls short, disappointment sets in.
- Slope of Enlightenment: Real, practical uses begin to emerge.
- Plateau of Productivity: Steady, meaningful adoption happens.
Recognizing where AI is on this ride helps you avoid marketing smoke and mirrors and make smarter calls.
Image credit: The Conversation, CC BY-ND
📉 When Buzz Outpaces Reality (Hello, 2017 Blockchain)
Remember Long Island Iced Tea Corp? They morphed into Long Blockchain Corp overnight, and their stock skyrocketed by 400% — all hype, zero blockchain product. Kodak tried the crypto route with KodakCoin; stocks shot up, promises flooded in, but real impact? Barely.
Companies chased the hype to the detriment of practicality, trying everything from tracking pet food ingredients on blockchains to launching quirky crypto-based loyalty programs. Spoiler: Most of these projects crashed and burned, with about 90% of enterprise blockchain solutions failing by mid-2019.
💬 Lesson: Just because it’s flashy doesn’t mean it’s ready or relevant. Companies were dazzled by promises without solving real problems.
🤖 The AI Déjà Vu (2023 and Beyond)
Cue 2023. BuzzFeed’s stock jumped after announcing AI-generated quizzes and content. Klarna replaced hundreds of workers with an AI chatbot — claiming massive efficiency boosts.
Reality? Not so rosy. Klarna lost customers, backtracked, and rehired humans. BuzzFeed’s AI gambit didn’t save its struggling news division — which shut down shortly after. CNET’s AI-written stories were littered with errors, tarnishing its credibility.
This isn’t just bad luck; it’s the AI hype cycle repeating the blockchain’s missteps.
🤔 Why Do Companies Chase the Hype?
Three big reasons:
- Inflated Expectations: Everyone’s hyped on what AI could do—not what it actually does.
- Short-Term Focus: Leadership races to show they’re "innovative," ignoring planning and nuance.
- Flawed Implementation: Projects get launched too fast, without testing, with little understanding, and often miss the mark.
The result: disappointment often winds up on tech’s doorstep, not because AI is dead in the water, but because it wasn’t deployed thoughtfully.
🚀 So, What’s Next for AI?
Here’s the bright side: AI, like blockchain, is real tech with tremendous potential.
Blockchain’s hype faded, sure, but it found its stride in “asset tokenization” in finance — turning things like real estate or company shares into digital tokens for smarter, cheaper trading.
Similarly, the AI hype is cooling off and expected to enter a more mature, practical phase. The mistakes of rushed AI roll-outs will shed light on what tools work, which don’t, and where human-AI collaboration shines.
Fun fact: AI is best used to enhance human productivity — not replace humans entirely. Whether it’s writers protesting AI or chatbots fumbling answers, combining human savvy with AI muscle is proving to be the winning combo.
🎯 The Takeaway
Understanding tech hype cycles isn’t just academic—it’s crucial for anyone in business or tech. Don’t get swept away by every shiny new thing. Instead:
- Focus on solving real problems
- Experiment thoughtfully
- Avoid chasing short-term buzz
- Look for meaningful, sustainable value
AI’s story is still being written — and the best chapters lie ahead for those who ride the hype rollercoaster with eyes wide open.
🌟 Stay savvy, stay curious! See you next time.