Trough of disillusionment: AI hits a rough patch

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  The Economist. Hello, Mike Bird here, co-host of Money Talks,

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  our weekly podcast on markets, the economy and business.

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  Welcome to Editor's Picks.

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  We've chosen an article from the latest edition of The Economist,

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  which we very much hope you'll enjoy.

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  When the chief executive of a large tech firm based in San Francisco shares a drink with the bosses of his Fortune 500 clients,

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  he often hears a similar message.

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  They're frustrated and disappointed.

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  They say, I don't know why it's taking so long.

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  I've spent money on this.

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  It's not happening.

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  For many companies,

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  excitement over the promise of generative artificial intelligence or AI has given way to vexation over the difficulty of making productive use of the technology.

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  According to S&P Global, a data provider,

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  the share of companies abandoning most of their generative AI pilot projects has risen to 42%,

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  up from 17% last year.

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  The boss of Klana, a Swedish buy-now-pay-later provider,

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  recently admitted that he went too far in using the technology to slash customer service jobs and is now rehiring humans for the roles.

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  Consumers, for their part, continue to enthusiastically embrace generative AI.

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  Sam Altman, the boss of OpenAI,

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