A Familiar Tale: The AI Revolution Echoes the Excitement of the Dot-com Era

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relative w-full h-full object-cover" src="https://media.licdn.com/dms/image/v2/D5612AQG-CqaDV3ZI_g/article-cover_image-shrink_600_2000/article-cover_image-shrink_600_2000/0/1690989446315?e=2147483647&v=beta&t=_wnJ_NVC8xi_lKT3Dtc4Gv4XKQlxxkQj1Lo0A5jsQxc" fetchpriority="high" data-embed-id="cover-image" alt="A Familiar Tale: The AI Revolution Echoes the Excitement of the Dot-com Era"> </div> </div>  </figure> <header> <section class="core-section-container relative my-3"> <h1 class="pulse-title text-display-md text-color-text lg:text-display-lg font-bold w-11/12">A Familiar Tale: The AI Revolution Echoes the Excitement of the Dot-com Era</h1> <div class="ellipsis-menu absolute right-0 top-0"> <div class="collapsible-dropdown flex items-center relative hyphens-auto"> <button class="ellipsis-menu__trigger collapsible-dropdown__button btn-md btn-tertiary cursor-pointer !py-[6px] !px-1 flex items-center rounded-[50%] " aria-expanded="false" aria-label="Open menu" 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base-card--link base-main-card flex flex-wrap py-2 pr-2 babybear:pr-0 base-main-card--link publisher-author-card"> <a class="base-card__full-link absolute top-0 right-0 bottom-0 left-0 p-0 z-[2]" href="https://www.linkedin.com/in/therobkennedy" data-tracking-control-name="article-ssr-frontend-pulse_publisher-author-card" data-tracking-will-navigate> <span class="sr-only"> Rob Kennedy </span> </a> <img class="inline-block relative rounded-[50%] w-6 h-6 " data-delayed-url="https://media.licdn.com/dms/image/v2/D4E03AQHNVSCHdqQHtA/profile-displayphoto-shrink_400_400/profile-displayphoto-shrink_400_400/0/1707101443842?e=2147483647&v=beta&t=40GuRova08Au8FCCJaFs9KAzuuzhK5u2WI2FXzUEzck" data-ghost-classes="bg-color-entity-ghost-background" data-ghost-url="https://static.licdn.com/aero-v1/sc/h/9c8pery4andzj6ohjkjp54ma2" alt="Rob Kennedy"> <div class="base-main-card__info self-center ml-1 flex-1 relative break-words papabear:min-w-0 mamabear:min-w-0 babybear:w-full ">  <h3 class="base-main-card__title font-sans text-[18px] font-bold text-color-text overflow-hidden "> Rob Kennedy </h3> <h4 class="base-main-card__subtitle body-text text-color-text overflow-hidden "> Founder & Chief Software Architect | ex-Amazon | Certified ScrumMaster® | AI, Software Engineering for Scale, Customer Obsession </h4>  <div class="body-text text-color-text-low-emphasis base-main-card__metadata"> Published Aug 2, 2023 </div>  </div> <div class="base-main-card__ctas z-[3] self-center ml-3 babybear:ml-1 babybear:self-start"> <a class="base-main-card__cta btn-sm btn-secondary" href="https://www.linkedin.com/signup/cold-join?session_redirect=%2Fpulse%2Ffamiliar-tale-ai-revolution-echoes-excitement-dot-com-rob-kennedy%2F&trk=article-ssr-frontend-pulse_publisher-author-card" data-tracking-control-name="article-ssr-frontend-pulse_publisher-author-card" data-tracking-will-navigate> + Follow </a> </div> </div> </div> </section> </header> <div data-test-id="article-content-blocks">  <div class="article-main__content" data-test-id="publishing-text-block"> <p> <span class>If you're someone who remembers the Internet revolution of the 90's-00's, we've seen the birth and evolution of the industrial revolution of the Internet. Today, Artificial Intelligence (AI) is poised to usher in a similar-sized industrial revolution.</span> </p> </div>  <div class="article-main__content" data-test-id="publishing-text-block"> <p> <br> </p> </div>  <div class="article-main__content" data-test-id="publishing-text-block"> <p> <span class>The Internet was a young, misunderstood technology in the 1990s that was frequently viewed with a mix of skepticism and curiosity. (Who can forget the </span><span class><a href="https://www.youtube.com/watch?v=UlJku_CSyNg&trk=article-ssr-frontend-pulse_little-text-block" target="_blank" data-tracking-control-name="article-ssr-frontend-pulse_little-text-block" data-tracking-will-navigate data-test-link>infamous clip </a></span><span class> of the hosts of the Today Show attempting to explain the Internet?) But over time, it developed into a force for rapid expansion that sparked the creation of countless internet start-ups and, ultimately, the dot-com bubble. Today, as a new era dominated by AI is about to dawn, we find ourselves in a strikingly comparable circumstance.</span> </p> </div>  <div class="article-main__content" data-test-id="publishing-text-block"> <p> <br> </p> </div>  <div class="article-main__content" data-test-id="publishing-text-block"> <p> <span class>Similar to the early dot-com period, there are an increasing number of AI start-ups nowadays. Even during these tighter economic seasons, investment in AI start-ups has continued to soar year over year (</span><span class><a href="https://www.linkedin.com/redir/redirect?url=https%3A%2F%2Fwww%2Estatista%2Ecom%2Fstatistics%2F1344128%2Fworldwide-artificial-intelligence-startup-company-funding-by-quarter%2F&urlhash=pr7S&trk=article-ssr-frontend-pulse_little-text-block" target="_blank" data-tracking-control-name="article-ssr-frontend-pulse_little-text-block" data-tracking-will-navigate data-test-link>ref </a></span><span class>). Furthermore, the breadth of AI's applications across sectors—from healthcare to automotive, from agriculture to entertainment—exceeds the broad impact the Internet had in its early years.</span> </p> </div>  <div class="article-main__content" data-test-id="publishing-text-block"> <p> <br> </p> </div>  <div class="article-main__content" data-test-id="publishing-text-block"> <p> <span class>By taking use of the potential of digital connectivity, new businesses were able to upend existing firms in the early days of the Internet. By using the power of the Internet, companies like Google and Amazon, for example, completely changed how we find information and shop online.</span> </p> </div>  <div class="article-main__content" data-test-id="publishing-text-block"> <p> <br> </p> </div>  <div class="article-main__content" data-test-id="publishing-text-block"> <p> <span class>Similar to this, startups are using AI and machine learning to offer cutting-edge products and services. Take </span><span class>  <a href="https://www.linkedin.com/company/openai?trk=article-ssr-frontend-pulse_little-mention" target="_blank" data-tracking-control-name="article-ssr-frontend-pulse_little-mention" data-tracking-will-navigate data-test-link>OpenAI </a>  </span><span class>, a well-known research organization (turned for-profit business) that is pushing the limits of LLM capabilities. They've made complex language models like GPT-3.5 (and now GPT-4) more widely available, enabling other companies to quickly develop chatbots, automated content, and even virtual teaching assistants. </span><span class>  <a href="https://www.linkedin.com/company/pathai?trk=article-ssr-frontend-pulse_little-mention" target="_blank" data-tracking-control-name="article-ssr-frontend-pulse_little-mention" data-tracking-will-navigate data-test-link>PathAI </a>  </span><span class>, a firm that is committed to dramatically improving patient outcomes by increasing diagnosis accuracy in healthcare through machine learning. Cloud companies like </span><span class>  <a href="https://www.linkedin.com/company/amazon-web-services?trk=article-ssr-frontend-pulse_little-mention" target="_blank" data-tracking-control-name="article-ssr-frontend-pulse_little-mention" data-tracking-will-navigate data-test-link>Amazon Web Services (AWS) </a>  </span><span class> are offering new services at a rapid pace that allow even the smallest start-up to utilize these new technologies without significant hardware investment.</span> </p> </div>  <div class="article-main__content" data-test-id="publishing-text-block"> <p> <br> </p> </div> <div class="inline-articles bg-color-surface-new border-hidden rounded-sm p-1 mx-auto my-1.5 mamabear:w-2/3 inline-articles__after"> <h2 class="text-xl font-medium ml-1.5 my-1 text-color-text mamabear:text-center">Recommended by LinkedIn</h2> <div class="flex flex-wrap mx-0.5 babybear:mx-1.5"> <div class="content-author-card flex flex-col max-w-[270px] h-auto rounded-md border-1 border-system-gray-30 border-solid pb-1.5 inline-article mx-auto my-1 border-hidden papabear:w-[219px] babybear:min-w-full mamabear:min-w-full h-auto bg-color-canvas-tint"> <a class="no-underline" data-tracking-control-name="inline-recommended-articles" data-tracking-will-navigate href="https://www.linkedin.com/pulse/generative-ai-business-why-accenture-investing-3-billion-bernard-marr"> <img class="content-image w-full h-[150px] bg-cover rounded-t-md object-cover" data-delayed-url="https://media.licdn.com/dms/image/v2/D4E12AQFzJrCckh0zjA/article-cover_image-shrink_600_2000/article-cover_image-shrink_600_2000/0/1692080766658?e=2147483647&v=beta&t=TNcTsH0Vvr8qeINj4A-x6sFlXP8QOeWB1Dd0PKXuDCQ"> <div class="inline-article-title text-md text-color-text font-bold pl-2 pt-1 pr-1.5">Generative AI In Business: Why Accenture Is Investing…</div> <div class="inline-article-meta px-2 mt-1 font-sans text-xs font-normal text-color-text-low-emphasis h-full"> <span class="inline-article-author pt-0.5"> Bernard Marr </span> <span class="before:middot pt-0.5 inline-article-published-date"> 1 year ago </span> </div> </a>  </div> <div class="content-author-card flex flex-col max-w-[270px] h-auto rounded-md border-1 border-system-gray-30 border-solid pb-1.5 inline-article mx-auto my-1 border-hidden papabear:w-[219px] babybear:min-w-full mamabear:min-w-full h-auto bg-color-canvas-tint"> <a class="no-underline" data-tracking-control-name="inline-recommended-articles" data-tracking-will-navigate href="https://www.linkedin.com/pulse/gen-ai-business-7-eugina-jordan-t3die"> <img class="content-image w-full h-[150px] bg-cover rounded-t-md object-cover" data-delayed-url="https://media.licdn.com/dms/image/v2/D4E12AQGP0YzhagAbfQ/article-cover_image-shrink_720_1280/article-cover_image-shrink_720_1280/0/1721182649799?e=2147483647&v=beta&t=hzmo428Map-ScY7frpVItiG8MUHnmwMNuvLhxhjzWT0"> <div class="inline-article-title text-md text-color-text font-bold pl-2 pt-1 pr-1.5">Gen AI for Business #7</div> <div class="inline-article-meta px-2 mt-1 font-sans text-xs font-normal text-color-text-low-emphasis h-full"> <span class="inline-article-author pt-0.5"> Eugina Jordan </span> <span class="before:middot pt-0.5 inline-article-published-date"> 5 months ago </span> </div> </a>  </div> <div class="content-author-card flex flex-col max-w-[270px] h-auto rounded-md border-1 border-system-gray-30 border-solid pb-1.5 inline-article mx-auto my-1 border-hidden papabear:w-[219px] babybear:min-w-full mamabear:min-w-full h-auto bg-color-canvas-tint"> <a class="no-underline" data-tracking-control-name="inline-recommended-articles" data-tracking-will-navigate href="https://www.linkedin.com/pulse/digital-storm-weekly-43-ai-war-two-fronts-amazon-backs-paul-storm-mjo0f"> <img class="content-image w-full h-[150px] bg-cover rounded-t-md object-cover" data-delayed-url="https://media.licdn.com/dms/image/v2/D4D12AQGLOu0XMQrRjA/article-cover_image-shrink_720_1280/article-cover_image-shrink_720_1280/0/1712063119189?e=2147483647&v=beta&t=v9PJJ8JQhwLVfDp2Ln6Q1ciGJxkzQ12vBHevxmDphaU"> <div class="inline-article-title text-md text-color-text font-bold pl-2 pt-1 pr-1.5">DIGITAL STORM weekly #43 - AI war on two fronts:…</div> <div class="inline-article-meta px-2 mt-1 font-sans text-xs font-normal text-color-text-low-emphasis h-full"> <span class="inline-article-author pt-0.5"> Paul Storm </span> <span class="before:middot pt-0.5 inline-article-published-date"> 7 months ago </span> </div> </a>  </div> </div> </div>  <div class="article-main__content" data-test-id="publishing-text-block"> <p> <span class>But there may be challenges, just as there were in the dot-com boom. The hype cycle comes first. Like the early Internet, artificial intelligence has created a lot of buzz. While the optimism about AI's potential is based on genuine, concrete developments, there will inevitably be hype that raises hopes and could even result in a bubble.</span> </p> </div>  <div class="article-main__content" data-test-id="publishing-text-block"> <p> <br> </p> </div>  <div class="article-main__content" data-test-id="publishing-text-block"> <p> <span class>Furthermore, ethical issues in AI are similar to the privacy and information security worries brought on by the development of the Internet and social media. Similar to the discussions surrounding digital privacy, AI start-ups and society at large need to address the important issues of data privacy and the algorithmic bias will inevitably have. The developers of these models hold immense sway over the information they will provide. There needs to be a broader discussion on what that means for how we interpret and trust the model results.</span> </p> </div>  <div class="article-main__content" data-test-id="publishing-text-block"> <p> <br> </p> </div>  <div class="article-main__content" data-test-id="publishing-text-block"> <p> <span class>So what can we expect from AI in the future? One thing that is true is AI at scale is </span><span class="italic">very </span><span class>expensive, so we'll probably observe a similar pattern to what we did in the wake of the dot-com bubble. The AI models will equate to the browser wars of the 90s. Large companies will again attempt to impose their economic dominance to drive market share. Additionally, due to the mismatch between expectations and reality, many start-ups may fail, while others may merge or be acquired. However, some will persevere through the crisis and emerge as the new Googles and Amazons of the AI industry. What concerns me the most right now is these larger players are using lobbyists and “scare tactics” to drive regulation that will push out smaller competitors. Not cool.</span> </p> </div>  <div class="article-main__content" data-test-id="publishing-text-block"> <p> <br> </p> </div>  <div class="article-main__content" data-test-id="publishing-text-block"> <p> <span class>We are just beginning to comprehend AI's potential applications and effects, but one thing is certain: its integration into our daily lives is inevitable. Similar to the early days of the Internet, AI is poised to transform our world in ways we can't fully predict. We (Yes, you and me) now have the opportunity to define the growth of the AI era, just as we did when we adapted to and shaped the Internet era. We have the chance to direct its development, encourage its moral application, and guarantee that its advantages are widely shared. As future consumers and users of these tools, we must be educated and understand the purpose and tradeoffs for using these new technologies.</span> </p> </div>  <div class="article-main__content" data-test-id="publishing-text-block"> <p> <br> </p> </div>  <div class="article-main__content" data-test-id="publishing-text-block"> <p> <span class>It's up to us—technologists, businesspeople, decision-makers, and consumers—to grab the potential of AI and direct its course, not big-tech nor governments. 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hover:text-color-text-on-dark focus:bg-color-action focus:text-color-text-on-dark language-selector__link !font-regular" data-tracking-control-name="language-selector-th_TH" data-locale="th_TH" role="menuitem" lang="th_TH"> ภาษาไทย (Thai) </button> </li> <li class="language-selector__item" role="presentation">  <button aria-label="Tagalog (Tagalog)" class="font-sans text-xs link block py-[5px] px-2 w-full hover:cursor-pointer hover:bg-color-action hover:text-color-text-on-dark focus:bg-color-action focus:text-color-text-on-dark language-selector__link !font-regular" data-tracking-control-name="language-selector-tl_PH" data-locale="tl_PH" role="menuitem" lang="tl_PH"> Tagalog (Tagalog) </button> </li> <li class="language-selector__item" role="presentation">  <button aria-label="Türkçe (Turkish)" class="font-sans text-xs link block py-[5px] px-2 w-full hover:cursor-pointer hover:bg-color-action hover:text-color-text-on-dark focus:bg-color-action focus:text-color-text-on-dark 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