Is the AI Boom About to COLLAPSE? - Why Is This Happening? - Chris Hayes

[Rhiannon12866]

There’s a lot to unpack about the economic effects of artificial intelligence. It’s clear that artificial intelligence is having a moment (to say the least) and that it has a profound impact on global GDP. But is it just a boom that will bust?

Ed Zitron, author and host of the “Better Offline” podcast, is deeply worried about the long-term viability of the industry. He points out that AI lacks the basic traits that have been associated with previous software booms.

This raises the question: is AI running more on unsustainable costs and vibes rather than long-term profit potential? According to Ed, the answer is clear- AI’s future entails, in his words, “a fiery apocalypse.”

[paulkienitz]

1. I think we are within weeks of the bust.

The new IPOs they're trying are asking too much. Not enough believers to go around.

[Rhiannon12866]

2. Thanks for the prediction, and I believe you...

[paulkienitz]

6. When I said that in its own thread, most of the responses dismissed it.

Lotsa people want to poo-poo the idea that the bubble's gonna crash soon, or at all.

https://www.democraticunderground.com/100221281067

[Ford_Prefect]

3. As with the early days of the Internet Boom they are expecting huge effects and financial returns from a technology

barely functional, and far from mature as a tool. They anticipate controlling every feature of modern life, finance, and business through their "pet" software.

Since a substantial portion of AI process is based upon patterns gleaned from language, art, science, and business practices it is inherently limited to replicating those patterns without human context to moderate its decisions. The real judgements will be made by those writing the project goals thus shaping the conclusions available for AI to select. Imagine our whole world run by the kinds of arbitrary dogma underlying HMO medical judgements.

That is the future free from human moderation which the Tech Bros imagine to be ideal, and very profitable.

[marble falls]

4. it only has very specific uses, like a Ferrari. The vast majority of drivers do not have either need or skill set ...

... for a Ferarri.

[buzzycrumbhunger]

5. Wow

I’m suddenly much less concerned about AI itself and more concerned about the economic crash (and ecologic disaster) these bozos are going to bring crashing down on our heads. Did none of these über geeks think to consult a financial wizard when they came up with this great idea?