Is Sam Altman right that the artificial intelligence (AI) market is in a bubble? Several signs this week seem to confirm the statement made by the founder of OpenAI. After the major tech company’s shares fell yesterday, Meta today froze hiring in its AI division, according to a report in the Wall Street Journal.
In a statement released by Meta, they confirmed that the hiring freeze has been in place since last week in line with a broad restructuring. We reported yesterday that Meta Superintelligence Labs was split into four main divisions a few weeks after its formation. Meta is also now open to using third-party open AI models to accelerate the development of artificial general intelligence (AGI).
AI development is still continuing at a rapid pace by companies and trillions have been pledged to pursue the dream of becoming an AGI company. But each new model launched only provides small increases in capabilities, but costs are rising and data is scarce for training. If Meta starts to hit the brakes, is this a canary in the mine for the AI industry?