Demis Hassabis expressed to the Financial Times on March 31st that a large amount of funding flowing into generative artificial intelligence (AI) companies and products is reminiscent of the similar frenzy in the cryptocurrency field. "Some of this funding has now flowed into the AI field, which I think is unfortunate. It obscures the essence of science and research, which are the truly important aspects," he added. "In a sense, the hype around AI is not enough, but in some ways, it has become too overheated. We are talking about all sorts of unrealistic things." OpenAI's ChatGPT chatbot was launched in November 2022, triggering a wave of AI project investments. According to market analysts CB Insights and the Financial Times, investors provided equity financing to 2,500 AI startups in 2023, totaling a staggering $42.5 billion. However, the report points out that regulatory agencies are closely monitoring companies that make false or exaggerated claims about their AI products. Last year, the U.S. Securities and Exchange Commission (SEC) issued a warning about "AI washing," similar to "greenwashing" where companies overstate their environmental performance, and earlier this month, it accused two investment advisory firms of misrepresenting their AI capabilities. "We repeatedly see that when new technologies emerge, they generate investor enthusiasm and false advertising from those claiming to use these new technologies," said SEC Chairman Gary Gensler. "Investment advisors should not mislead the public by claiming to use AI models when they actually do not. This AI washing behavior harms investors' interests." Last week, the U.S. Treasury Department released a study exploring the cybersecurity risks associated with the growing use of AI in the financial services industry. "I think we are only scratching the surface of what could be achieved in the next decade or so," he said. "We may be at the beginning of a new golden age of scientific discovery, a new Renaissance."