Artificial intelligence (AI) is by no means a new technology. The term was first coined by mathematician and computer scientist Alan Turing in 1950. Since then, the generative technology has appeared in one form or another for decades. However, advances in tech have only recently made it possible for companies to bring the true concept of AI into reality.
The launch of OpenAI’s ChatGPT in November 2022 breathed new life into the industry, forcing many to rethink what they thought was currently possible with AI. As a result, interest has skyrocketed as companies across tech have rushed to get in on the ground floor. The Nasdaq Composite index has climbed 68% since the start of 2023, driven primarily by excitement over AI.
However, macroeconomic concerns have led to a drop in the market over the last month, bringing the same index down by about 4%. Yet, recent declines are likely…
