Globaldata Suggests That As More People Interact With Ai Products Like Large Language Models, They Increasingly Come Up Against The Technology’s Limitations. Credit: Tada Images/shutterstock.

The hype surrounding AI appears to be cooling while confidence in the technology to disrupt industries remains, a new survey suggests.

GlobalData’s Tech Sentiment Polls Q3 2024 survey found that less than half of respondents believed AI will live up to all its promises for the second quarter running. This is in contrast to higher expectations for the technology throughout 2023 and the first quarter of 2024.

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Hype vs. substance by technology, Q3 2024

In response to the question: “How much of the following technologies is hype and how much is substance?”, 39% of 358 respondents across GlobalData’s network of B2B websites indicated that they believe AI will live up to all its promises. This compares to 45% in Q2 2024, 55% in Q1 2024, 56% in Q4 2023, 53% in Q4 2023, 63% in Q2 2023 and 57% in Q1 2023 – showing a continued downward trend.

Explaining this, GlobalData said: “As more people interact with AI products, such as large language models, they increasingly come up against the technology’s limitations.”

A larger 49% of respondents to the most recent survey feel AI is hyped by say they can see a use for it – and this is reflected in the extent to which respondents believe AI will disrupt their sectors. A little over half (53%) of 357 indicated that they expect significant disruption, with 39% expecting either only slight disruption or no disruption at all. Sliced differently, the results show that almost three quarters of respondents (74%) expect AI to disrupt their industries to some extent.

Indeed, despite the falling levels of hype about AI, it is the technology viewed as most likely to significantly disrupt industries or likely to disrupt them at all among seven of the most significant technologies today. Among the respondents, it is followed in this respect by cybersecurity, robotics, cloud computing, the internet of things, augmented reality and the metaverse.

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Disruption timelines by technology, Q3 2024

Of cybersecurity, GlobalData said noted that it is “ubiquitous across all sectors.” The survey found that 76% of respondents believe the technology is either already disrupting their industry or will do so in the next 12 months, adding that no industry is exempt from cyberattacks.

“State-sponsored attacks are a real threat, and ransomware attacks are becoming more sophisticated,” GlobalData’s survey report outlines. “2024 is a year of elections, conflict, and political volatility. This makes cybersecurity one of the most important themes of the year.”