Why the A.I. euphoria is doomed to fail – VentureBeat

Investors dropped 681 million into A.I.-centric startups in Silicon Valley last year. This year, the number will likely reach 1.2 billion. Five years ago, total A.I. investment spiked at roughly 150 million. This is how Silicon Valley works: When something new is hyped and seems to have investor trust, everybody jumps on the train without asking, "Where does this train go?" The truth is that artificial intelligence does not exist yet, and most companies claiming to have A.I. technology are arrogantly re-selling an old concept of machine learning -- a technology that was first introduced in 1959 but which truly started to take off in the 1990s.