Hype Cycle Version 4 V2

Matt Leitz - Monetize, Automate, Systemize
1 Dec 202305:12

TLDRMatt Lights, founder of Bot Builders, introduces the Hype Cycle and its impact on financial futures, particularly concerning AI. He explains the pattern of over-enthusiasm followed by disillusionment and eventual mass adoption. Lights suggests that AI is nearing the peak of hype and advises viewers to separate hype from reality to capitalize on the technology's growth. He offers a free web class to guide interested individuals on leveraging AI for business success, emphasizing that no significant investment or tech knowledge is required.

Takeaways

  • 📊 The Hype Cycle illustrates the pattern that nearly every new technology follows, from initial excitement to eventual widespread adoption.
  • 🤖 AI is currently at a peak in visibility, generating significant hype, but this hype is expected to wane before the technology stabilizes and integrates into daily life.
  • 💼 Matt Lights, owner of Bot Builders, emphasizes the importance of understanding and leveraging technological trends to achieve business success.
  • 📉 After the peak hype, AI's visibility is predicted to decrease as initial enthusiasm diminishes and users become frustrated with early experiences.
  • 📈 Despite fluctuations in hype, the economic potential of AI continues to grow steadily, creating opportunities for substantial financial gain.
  • 🌐 AI is expected to become as integral to everyday life as personal computers and the internet, reaching a point of mass adoption.
  • 💡 To capitalize on AI, it's crucial to distinguish between the temporary hype and the long-term reality of the technology.
  • 💰 AI is poised to create more wealth than previous technological revolutions, with predictions that the first trillionaire will be made through AI.
  • 🧠 Success with AI doesn't require vast knowledge or significant initial investment; understanding where to focus efforts is key.
  • 🚀 To thrive in the AI landscape, it's important to stay ahead of the trend, ignore the exaggerated hype, and focus on actionable steps for growth.

Q & A

  • What is a Hype Cycle?

    -A Hype Cycle is a graphical representation that illustrates the life cycle stages of a new technology, showing how the public's perception and adoption of the technology evolve over time.

  • What is Matt Lights' profession and what is his company called?

    -Matt Lights is the owner of a company called Bot Builders, which is a multiple Inc. 5000 winner.

  • According to Matt Lights, where is AI on the Hype Cycle currently?

    -Matt Lights believes that AI is currently at the peak of the Hype Cycle, where the hype is at its highest and is about to start slowing down.

  • Why might the hype around AI start to decrease?

    -The hype might decrease because it will no longer be on the front page news, and as people start using AI tools without understanding how to get real results, they may get frustrated and give up.

  • What does Matt Lights predict will happen after the initial hype around AI dies down?

    -Matt predicts that public opinion will gradually turn positive again, the reality will align with the hype, and AI will eventually reach a period of mass adoption, becoming a part of everyday life.

  • What is the 'Sweet Spot' Matt Lights refers to on the Hype Cycle?

    -The 'Sweet Spot' is the intersection point on the Hype Cycle where the technology is mature enough and one should start investing in it to capitalize on the trend.

  • How does Matt Lights suggest separating the hype from the reality of AI?

    -Matt suggests that to separate hype from reality, one should focus on the actual money being generated by AI and follow where the billion-dollar corporations are investing.

  • What does Matt Lights offer to help people understand and utilize AI?

    -Matt offers a free web class where he breaks down the steps to get real results with AI and provides a free gift for attending.

  • What is the main message Matt Lights wants to convey about AI and business opportunities?

    -Matt's main message is that AI is the biggest opportunity of our lifetime and that smart people can capitalize on it by understanding the trend and not just listening to the hype.

  • How does Matt Lights define the potential of AI in creating wealth?

    -Matt believes that AI has the potential to create more millionaires and billionaires than the internet, and that the world's first trillionaire could be created by AI.

  • What is the final call to action from Matt Lights for those interested in learning more about AI?

    -Matt invites interested individuals to join him by clicking on a button for a free web class where he will provide insights and guidance on leveraging AI for business growth.

Outlines

00:00

🤖 Understanding AI's Hype Cycle and Its Financial Impact

Matt Lights introduces the concept of the 'hype cycle' and its relevance to AI, explaining how it affects financial futures. He positions AI at the peak of the hype cycle, suggesting a forthcoming decline in public interest as the novelty wears off. Matt, a tech entrepreneur and owner of Bot Builders, shares his experience with tech trends and encourages viewers to distinguish between hype and reality to capitalize on AI's potential. He predicts that AI will follow the path of personal computers and the internet, eventually becoming ubiquitous and integral to daily life. Matt emphasizes the importance of being ahead of the trend and not being swayed by the hype, highlighting the current intersection of technology and investment as the 'Sweet Spot' for making significant financial gains.

05:01

🚀 Embracing AI for Business Growth and Opportunity

In the second paragraph, Matt Lights shifts focus to the practical application of AI for business growth, inviting viewers to join his free web class for a step-by-step guide on leveraging AI. He dismisses the common misconceptions about AI and assures that no significant financial investment or technical expertise is required to benefit from it. Matt promises a no-nonsense approach to teaching AI, aiming to debunk myths and provide actionable insights. He extends an invitation to join him on this journey, whether the viewer is an established entrepreneur or just starting out, positioning himself as a guide for navigating the AI landscape and maximizing business opportunities.

Mindmap

Keywords

💡Hype Cycle

The Hype Cycle is a graphical representation of the maturity and adoption of technologies, products, or services. It illustrates the pattern that every new technology follows, starting from the 'Technology Trigger' and moving through the 'Peak of Inflated Expectations', 'Trough of Disillusionment', 'Slope of Enlightenment', and finally reaching the 'Plateau of Productivity'. In the context of the video, the Hype Cycle is used to describe the trajectory of AI technology, showing where it currently stands in terms of public interest and adoption.

💡Artificial Intelligence (AI)

Artificial Intelligence refers to the simulation of human intelligence in machines that are programmed to think like humans and mimic their actions. The video discusses AI's current position on the Hype Cycle and its potential to create wealth and transform industries. Matt Lights suggests that AI is at the peak of hype and is about to enter a phase where its practical applications will become more widely recognized and adopted.

💡Matt Lights

Matt Lights is the owner of Bot Builders, a company that has been recognized by Inc. 5000 as a fast-growing business. In the video, he shares his expertise and insights on how to leverage AI technology to achieve business success. He positions himself as a guide who can help others understand and capitalize on the AI trend.

💡Trend

A trend in this context refers to a general direction in which something is developing or changing. Matt Lights emphasizes the importance of understanding and capitalizing on trends, particularly in technology, to achieve success in business. He suggests that AI represents the biggest opportunity of our lifetime and that being ahead of the trend can lead to significant financial gains.

💡Visibility

Visibility in the script refers to the degree to which a technology, in this case AI, is recognized or noticed in the public domain. The Hype Cycle chart uses visibility as one of its axes, indicating how much 'hype' or attention a technology is receiving at any given time. The video suggests that AI's visibility is currently very high, which is a characteristic of the peak of the Hype Cycle.

💡Mass Adoption

Mass adoption is the widespread acceptance and use of a technology by the general public. The video predicts that AI will eventually reach a period of mass adoption, similar to what happened with personal computers and the internet, becoming an integral part of everyday life and business operations.

💡Separating Hype from Reality

This phrase is used to describe the process of distinguishing between the inflated expectations and actual capabilities or achievements of a technology. In the video, Matt Lights advises viewers to separate the hype surrounding AI from its real-world applications to make informed decisions and investments.

💡Sweet Spot

The 'Sweet Spot' in the context of the Hype Cycle is the point at which a technology has matured enough to be practical and widely adopted without being overhyped. The video identifies this as the ideal time to invest in or adopt AI technology, suggesting that those who do so will be well-positioned to benefit from its growth.

💡Billionaire

A billionaire is an individual with a net worth of at least one billion units of a currency, usually dollars. The video mentions the potential of AI to create more millionaires and billionaires than the internet did, highlighting the transformative and wealth-generating potential of AI technology.

💡Free Web Class

The term 'Free Web Class' refers to an online educational session offered at no cost. In the video, Matt Lights invites viewers to join his free web class to learn more about AI, its potential, and how to capitalize on it. This is a marketing strategy to engage potential customers and provide value upfront.

Highlights

The Hype Cycle shows the pattern that every new technology follows.

Understanding the Hype Cycle can change your life by capitalizing on technology trends.

Matt Lights, owner of bot Builders, shares his experience with the Hype Cycle.

The Hype Cycle axis represents time and visibility of technology, such as AI.

AI is currently at its peak hype, and it's expected to slow down soon.

People will start to get frustrated with AI tools like chat GPT if they can't get real results.

Public opinion will eventually turn positive as the reality aligns with the hype of AI.

AI will reach a period of mass adoption, becoming a part of everyday life.

Matt suggests that AI is the biggest opportunity of our lifetime.

The money created by AI grows continuously, unlike the hype cycle.

AI has the potential to create more millionaires and billionaires than the internet.

Most people will miss out on the majority of the money created by AI due to listening to hype.

There is a 'Sweet Spot' in the Hype Cycle where technology and opportunity intersect.

Matt offers a free web class to help people understand and capitalize on AI opportunities.

You don't need a lot of money or technical knowledge to make money with AI.

Billion-dollar corporations are investing heavily in AI, indicating its potential.

Matt invites viewers to join him on a journey to grow their business with AI.