In February 2020, as Disney’s head of streaming, Kevin Mayer, was within the line of succession for CEO. However Mayer, seen right here on Sept. 29, 2022, and colleagues had been shocked when Iger introduced Bob Chapek would change Iger instantly.
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Former TikTok CEO and Candle Media co-CEO Kevin Mayer says that the hype round synthetic intelligence has reached a crescendo, with firm valuations trying “astronomical.”
Chatting with CNBC’s Karen Tso on the VivaTech convention in Paris on Friday, he mentioned that there is underlying worth in AI, as seen in earlier improvements just like the metaverse and Blockchain — however warned of a coming “stabilization” for valuations.
“AI supplies capabilities that haven’t but been seen and are very helpful. However the hype cycle has been dramatic,” Mayer mentioned.
“I feel we’ll see a peak of that, of the hype inside AI, the valuations, and everybody speaking about the way it’s gonna disrupt each single nook of our financial universe and private lives.”
Ever since OpenAI’s ChatGPT was first launched to the world in November 2022, regulators and tech leaders have change into more and more anxious concerning the dangers surrounding superior AI methods. On the identical time, the house has generated buzz from traders and introduced valuations considerably larger in some circumstances. Corporations like OpenAI, Anthropic, Cohere, and Mistral have raised billions of {dollars} from enterprise capitalists — together with consideration and funding from massive tech corporations, equivalent to Microsoft and Amazon.
Some high-profile voices have backed the expertise and its surge in curiosity. JPMorgan Chase CEO Jamie Dimon is amongst them, telling CNBC in February that AI isn’t just a passing fad and is larger than simply massive language fashions equivalent to those that underlie ChatGPT. He additionally in contrast the present second favorably to the tech bubble that emerged across the begin of the twenty first century.
However Mayer advised CNBC Friday that it is “vastly overhyped already.”
“Too many corporations [are] bringing in an excessive amount of capital at valuations which might be means too astronomical. So there will likely be a stabilization. There will be a realization of the advantages of AI in lots of many industries, however I feel the hype is at an all-time fever pitch proper now.”
—CNBC’s Jesse Pound and Arjun Kharpal contributed to this story.
