What does the term "AI winter" signify?

The term "AI winter" signifies a phase characterized by decreased funding and interest in AI. This phenomenon occurs when the initial excitement and optimism surrounding artificial intelligence do not meet the high expectations set by researchers and investors. As a result, support, both financial and academic, tends to diminish, and many projects may stall or fail. Historical episodes of AI winter have been marked by a lack of progress and breakthroughs in the field, leading to disillusionment with AI technologies. This contrasts sharply with periods of increasing interest and investment, which can foster rapid advancements and significant breakthroughs.