The AI industry is heavily capitalized, and reliant on smoke and mirrors. Calls for regulation and open letters asking for a pause in AI research from leaders of AI companies make headlines every few months. These are not circulating out of genuine fear, they are self aggrandizing, and honestly monopolistic. In under a year, artificial intelligence has transformed from a once-geeky sci-fi concept into a widely fear-inducing topic. No group benefits more from these fears than companies in the AI industry. A staggering number of new AI startups have emerged as artificial intelligence has become more mainstream. Building and training AI models can be extremely costly, whereas the fees charged by Open AI or other AI startups with hundreds of millions in funding are relatively low. This is a great time to hop on the hype train and secure some VC money. Almost all of these new AI ventures, including grief tech and writing assistants, are powered by a small handful of large AI companies. Full send, fewer than 20 companies are poised to serve as the backbone of most AI projects. Hype V. Reality Of AI It is important to note that existing AI projects are simply advanced statistical models. While the technology is impressive, it is not as remarkable as its reputation may suggest. A knife is dangerous, but even a very large knife is not the same as a nuclear bomb. In March, an open letter signed by Elon Musk, Stability AI CEO, Emad Mostaque and 31,808…Calling For A Moratorium On Calling For A Moratorium On AI