This was a really great read. The numbers don’t lie: 7 companies each independently invested 100 bn in AI and have seen little revenue in return (relatively speaking). When overlaying that on top of its impact on the us stock market as a whole, once the veil has been lifted that this is not leading to super intelligence, a bubble will burst and the entire economy will feel it.
That doesn’t mean “nothing to see here, move on.” It means that AI isn’t the bow-wave of “impending superintelligence.” Nor is it going to deliver “humanlike intelligence.”
It’s a grab-bag of useful (sometimes very useful) tools that can sometimes make workers’ lives better, when workers get to decide how and when they’re used.
This is the part that is overlooked when discussing anti-ai hype: these tools are very useful, but they appear only useful to the skilled laborer wielding them, instead of the investor claim that they will be replaced.
This was a really great read. The numbers don’t lie: 7 companies each independently invested 100 bn in AI and have seen little revenue in return (relatively speaking). When overlaying that on top of its impact on the us stock market as a whole, once the veil has been lifted that this is not leading to super intelligence, a bubble will burst and the entire economy will feel it.
This is the part that is overlooked when discussing anti-ai hype: these tools are very useful, but they appear only useful to the skilled laborer wielding them, instead of the investor claim that they will be replaced.