Welcome to the AI Trough of Disillusionment

WHEN THE chief executive of a large tech firm based in San Francisco shares a drink with the bosses of his Fortune 500 clients, he often hears a similar message. “They’re frustrated and disappointed. They say: ‘I don’t know why it’s taking so long. I’ve spent money on this. It’s not happening’”.

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This article appeared in the Business section of the print edition under the headline “The trough of disillusionment ”