For a few months now, we’ve been seeing a moderation in enthusiasm on Wall Street for Artificial Intelligence (AI) investment. On several occasions, a major tech company would announce a new multi-billion-dollar investment to acquire chips or other AI technology…or to build huge data centers to train LLMs…only to see their stock value crash. In a nutshell, investors are coming to believe that there is no way AI can hit a level of success great enough to repay the now trillions of dollars of collective investment by big Tech to create it.
Then, this week, Ford Motor Company announced it would rehire more than 300 engineers who had been let go to turn their jobs over to AI. Ford admits its AI ambitions failed and has rehired these “graybeard” veteran engineers with decades of experience to improve product quality.
