At my company, the tech leaders aren't doing it out of mass hysteria. They're very smart individuals. The push is coming from our investors that come from the ring of classic YC-affiliated VCs. My friend who runs a YC-backed company has been told to do it by his investors too. It's a coordinated effort by external investors rather than a mass panic by individual tech leaders. If you read VC investor literature, it's full of incredible claims about how companies who don't use AI will be left behind. The exact type of stuff you'd expect to hear from groups who aim to hit the lottery with a few of their investments.