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Hype brings investment money to the table. When an emerging technology appears, you can say we are looking to develop those technologies into our existing products and you will see a bump up in your share price.
After a few years of failed products and the hype dies for the next thing you can never mention the old hype but keep the bump in share price.
Think about 5-7 years ago, Blockchain was all the hype, 5-7 before then was Machine Learning and XaaS, before that was Big Data.
Yeah, investors kind of amplify hype. When there is hype, you will have some investors investing money.
If there's investors investing money, it makes sense for other investors to try to invest first, so that their invested money gains value (the share price rises).
And then it becomes somewhat of a self-fulfilling prophecy, because suddenly you do have companies equipped with money to pursue that hype, which can feed back into the hype.
But similarly, you'll eventually reach a point where it does not live up to the inflated hype and then shareholders can just as well be extremely quick to pull out their money and amplify the crash.
Investors also know not every product will sell. So pad the bet and spread wide to increase your chances to score big.
https://www.goldmansachs.com/insights/top-of-mind/gen-ai-too-much-spend-too-little-benefit
Things are changing.
The dumbest part about all of this is that the "AI" that's currently building up all the hype is just machine learning