20 months after the launch of ChatGPT, are we finally past the peak of AI hype?
There’s been an explosion of interest in artificial intelligence since 2022, with start-ups popping up all over London. Some of them have gone on to fetch eye-watering ten-figure valuations.
But Spy wonders if the moment to ride the AI wave has passed. Investors are starting to get a little more discerning over how to spend their cash, and entrepreneurs are starting to run out of fresh ideas to justify why their new venture needs to have ‘AI’ in the name.
Data Spy obtained from Companies House shows the second quarter of this year was the first time in nearly two years that the number of registrations of AI companies in London did not exceed the previous quarter, in signs of the beginning of a slowdown.
Well, it’s been fun. Onwards now to the new shiny thing, whatever that turns out to be.
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