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AI and dot-com bubble share some similarities but differ where it counts

Published 07/25/2023, 09:44 AM
Updated 07/25/2023, 11:20 AM
© Rotem Cnaani, SimilarWeb PR
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Artificial intelligence (AI) has seen tremendous growth in recent years, exploding into popular culture and industry and leading to comparisons with the now infamous dot-com bubble and crash of the 1990s.

During the late 1990s up until the early 2000s, internet-based companies were the subject of massive hype and investment, with the sector peaking at a value of $2.95 trillion before slumping to $1.195 trillion as capital dried up and investors left in droves, causing many companies in the industry to go bust.

The market cap of AI has seen steady growth since 2021, with forecasts predicting it could reach $1.8 trillion by 2030. Source: Statista
Preliminary data on ChatGPT’s traffic performance against Bing, Character.ai and Bard. Source: Similarweb (NYSE:SMWB)
The crypto market cap reached all-time highs in 2021 before crashing back to earth. Source: CoinGecko

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