The hype generative AI has introduced to the tech industry is apparently attracting more "grifters" than actual business, at least according to Google DeepMind CEO Dennis Hassibis.

In an interview with the Financial Times, Hassibis said the surge in funding in the development of the technology has led to investment frenzy as many people seek for a quick cash source.

The AI firm chief likened the current situation of the AI industry to past years when cryptocurrency had just started gaining mass attention, some of which "has now spilled over into AI."

Tech experts have long signaled concerns about the "hype" being generated by the new AI models as it gives less time to safety test the technology as the companies try to keep up with the demand.

Among the primary concerns previously highlighted is the technology's current vulnerability to abuse and exploitation, as well as contributing to the misinformation environment.

Hassibis' interview came after DeepMind researchers released their own paper on reducing "AI hallucinations," or the large language models generating fictitious and inaccurate information.

From NFTs to Generative AIs

Although he did not give a concrete example, Hassibis' remarks on the "grifters" currently surrounding the AI industry can be evidently seen.

In a sense, the amount of attention the technology receives reflects a similar case with NFTs during the pandemic when people started investing in cryptocurrency and digital markets.

Along with many businesses riding the hype, dozens of crypto-linked games and scams have popped up as the buzz on the topic spreads across social media.

With large language models and names like OpenAI and ChatGPT going viral in 2023, many people have shifted to the newest tech trend as attention for NFTs is slowly dying at that time.

The same thing can now be seen with AI, particularly generative AI images, with tutorials on how to sell "AI art" or deepfakes becoming more common in scams and fraud schemes.

Also Read: Cryptocurrency: Understanding the Popularity Behind the Digital Currency

AI Concerns Continue to Grow Amid Development Ramp-Ups

While worries about the current state of AI have been echoed by many experts and watchdogs, Hassibis' statement arrives as even tech industries developing AIs are expressing concerns.

So far, many companies have started collaborating for an "AI Alliance" to monitor and prevent the misuse of their technologies as more people and industries venture into it.

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