NEA’s Tiffany Luck says enterprises are still figuring out their AI ROI

Tiffany Luck of the NEA notes that enterprises are still determining their return on investment for artificial intelligence. The initial enthusiasm for AI, exemplified by the trend of "tokenmaxxing" in Silicon Valley, has given way to a more cautious approach as companies face unexpected costs. Uber, for instance, reportedly exhausted its annual AI budget in just a few months, prompting some companies to reassess their AI spending. As a result, companies like Meta have begun to scale back their AI initiatives, such as eliminating internal leaderboards.

✦ AI-generated summary