TECH Former TikTok CEO Kevin Mayer says AI hype is at an all-time fever pitch right now

Former TikTok CEO and Candle Media co-CEO Kevin Mayer says the hype around artificial intelligence has reached a crescendo, with company valuations looking “astronomical.”

Speaking to CNBC’s Karen Tso at the VivaTech conference in Paris on Friday, he said there is underlying value in AI, as seen in previous innovations such as the metaverse and Blockchain, but warned of a coming “stabilization” for valuations.

“AI provides capabilities that have not yet been seen and are very valuable. But the hype cycle has been dramatic,” Mayer said.

“I think we’ll see a peak of that, of the hype within AI, the valuations, and everyone talking about how it’s gonna disrupt every single corner of our economic universe and personal lives.”