Alright, let's get one thing straight: anyone shocked that nearly half of companies are throwing in the towel on their AI initiatives clearly hasn't been paying attention. 42% in the first half of 2025, according to some report? Up from 17% last year? Give me a break.
AI Apocalypse Now? More Like AI Hype Overload.
The Hype Train Wreck
We were promised AI would be our salvation, automating everything and ushering in an era of unprecedented efficiency. Remember all the breathless predictions? Now Gartner's saying 40% of agentic AI projects will be dead by 2027. Color me shocked. NOT.
The problem, as I see it, is simple: these companies bought into the hype without actually thinking about what they needed AI to *do*. It's like buying a Ferrari when you live in Manhattan - looks cool, but completely useless for navigating rush hour traffic. And speaking of useless, anyone else notice how every single tech "solution" these days requires a freaking subscription? I swear, if my toaster starts asking for $9.99 a month, I'm moving to a cabin in the woods.
And don't even get me started on the "democratization" of AI. Okay, so ChatGPT's gender gap is narrowing, and adoption is growing faster in low-income countries. Great, that's fantastic. But does that actually translate to meaningful change, or is it just another way for Big Tech to extract data from vulnerable populations? I'm not saying it *is*, but... you know.
Asset Management: AI Hype or Just Rearranging Deck Chairs?
The Asset Management Mirage
Then there's the asset management industry, supposedly ripe for AI disruption. We're talking about a potential 25-40% impact on their cost base. Gen AI can apparently boost efficiency by 9% in client-facing roles, 8% in investment management, and a whopping 20% in technology. Sounds amazing, right?
Except, let's be real: asset managers have been bleeding money for years. Pre-tax operating margins are down. They're throwing money at technology, but most of it goes to "run-the-business" initiatives, not "change-the-business" ones. It's like rearranging deck chairs on the Titanic. They're so focused on keeping the lights on that they can't see the iceberg looming ahead.
And what are they even *doing* with all this AI? ChatGPT is mostly being used for "practical guidance, seeking information, and writing." Three-quarters of conversations, apparently. So, basically, people are using it to Google things and write emails. That's it? We spent billions on this? I feel like I'm taking crazy pills. According to
How people are using ChatGPT - OpenAI, people are indeed using ChatGPT for practical guidance, information seeking, and writing.
The real kicker? Business leaders, not tech leaders, need to drive the AI agenda. HR should be a strategic partner. Incentives need to be redesigned. AI governance frameworks need to balance centralization and federation. Blah, blah, blah. It's the same corporate BS we've been hearing for decades, just with "AI" slapped on it.
Oh, and offcourse, we need to track "results that matter, not just what AI costs." No freakin' duh.
Singapore's "AI Success": Too Good to Be True?
The Singapore Exception?
Singapore's DBS Bank is being trotted out as the shining example of how to do things right. They achieved 11% and 8% CAGR in net profit and revenue by taking an end-to-end technology approach. But wait, are we really supposed to believe that one bank in Singapore is a magic bullet that disproves everything else? Seems a bit far fetched to me.
Then again, maybe I'm the crazy one here. Maybe AI really *is* the future, and I'm just a grumpy old cynic who's resistant to change. Maybe these companies that are ditching AI are making a huge mistake. Maybe... nah.
Another Overhyped Tech Bubble Bursts
AI ain't some magic wand. It's a tool, and like any tool, it's only as good as the person using it. And if that person is a clueless executive who's more interested in buzzwords than results, well, you're gonna end up with a very expensive paperweight.
