Take a cursory glance at recent headlines, and you’d be forgiven for thinking that the generative artificial intelligence bubble is bursting, for Wall Street, at least.

Marketers, however, take a longer-term view.

Stocks have tumbled, revealing a stark reality: The once-touted innovations of gen AI are slowing, while the costs of maintaining the technology soar as firms struggle to turn the profits they need.

Gartner’s well-known Hype Cycle research places gen AI for marketing firmly in the “peak of inflated expectations” phase, meaning that product adoption is rising, but the hype still outweighs concrete evidence of its effectiveness.