AI is also waiting for its first tangible mass-market application
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Artificial Intelligence is a buzzword these days. Everyone, from students to politicians, is talking about how Artificial Intelligence (AI) is going to shape our world in the coming days. With such hype around AI, there are a lot of opportunities for new jobs and to build new businesses from scratch. To understand the scale of the opportunity, we need to wind the clock to the late 90s.
In the late 90s, the now ubiquitous internet was a fledgling. Internet penetration was in its infancy—most of the world was using dial-up connections. Entrepreneurs saw the opportunity and rushed to create and set up dot-com firms. That led to a market crash called the dot-com bubble burst. This market crash wiped out firms and products which did not have a good value proposition or did not have a product-market fit. However, looking back at the events, we can now clearly accept the benefits of the experimentation done during the time. Large internet and ecommerce firms of our age emerged unscathed from the dot-com burst and went on to change the world. Another benefit to human society was the emergence of free internet browsers.