There are two kinds of companies in tech: hard tech companies who invent it, and tech-enabled companies who apply it to real world use cases.

With every new technology you have everyone come out of the woodwork and try the novel invention (web, mobile, crypto, ai) in the domain they know with a new tech-enabled venture.

Then there’s an inevitable pruning period when some critical mass of mismatches between new tool and application run out of money and go under. (The beauty of the free market)

AI is not good for everything, at least not yet.

So now it’s AI’s time to simmer down and be used for what it’s actually good at, or continue as niche hard-tech ventures focused on making it better at those things it’s not good at.