Jersey Mike's IPO illustrates how bad the AI hype has become
TechCrunch • • business
Key Points:
- Jersey Mike’s, a sandwich shop, mentioned artificial intelligence (AI) 22 times in its IPO documents, despite not being an AI company, highlighting the current investor enthusiasm for AI-related ventures.
- The company included AI in its investor-risk warnings, though it did not specify how AI is used or what risks it might pose, merely stating it is "beginning to use AI Technologies in our business."
- Jersey Mike’s heavily references software and data in its filings, reflecting the reliance on technology common to many businesses, especially those operating franchise models.
- The inclusion of AI risk warnings may be standard practice, influenced by past issues in the food industry, such as Starbucks’ failed AI inventory tool rollout.
- This trend illustrates how even non-tech companies feel compelled to highlight AI in their pitches to attract investor interest amid the current hype.
