A week and a half ago, Goldman Sachs put out a 31-page-report (titled "Gen AI: Too Much Spend, Too Little Benefit?”) that includes some of the most damning literature on generative AI I've ever seen. And yes, that sound you hear is the slow deflation of the bubble I've been warning you about since March.

wheresyoured.at/pop-culture

This is a long read. Here's an AI summary because lol

• Generative AI is not living up to the lofty promises made by proponents, and is unlikely to lead to the transformative changes or productivity gains that many have forecasted. Economist Daron Acemoglu argues the upside to US productivity and GDP growth from generative AI will likely be much more limited than expected.

• Generative AI is an extremely expensive technology, with the combined expenditure on data centers, utilities, and applications expected to cost over a trillion dollars in the next few years. However, it is unclear what trillion dollar problem generative AI will actually solve.

• Comparisons to the early days of the internet are misguided, as the internet was a low-cost technology solution, while AI is "exceptionally expensive" and not designed to solve complex problems. There are also doubts about whether AI costs will decline substantially over time.

• The report is highly critical of the AI hype cycle, arguing that generative AI cannot do many jobs well and is simply a "regurgitation of the past" rather than a revolutionary technology. It suggests the AI bubble is likely to burst as investors become disillusioned with the lack of tangible benefits.

It's worth reading the actual article btw.
AI summaries are worthless.

S*** is barely out of its early stages and they already want it foiled. Of course big brother doesn't want us to discover it's power

its so over

Read the article dummy

Why does it seem like ppl are positioning ai as some symbol of freedom

That aside, ai becoming ubiquitous in every industry is inevitable no matter how Goldman Sachs slates it

AI already read it for me

Read the article dummy 🫵

You are hopelessly delusional if you think AI represents some sort of populist technology that will be put to use for the majority of people lol

Yeah, it's a crazy amount of computing power, but like with tech before us, it will become manageable.

I do agree that AI is less actual AI and just a glorified data regurgitating algorithm. In it's current state, it's still extremely powerful for scripting and low level coding and I can't wait for it to get better.

S***, ChatGPT pretty much single handedly got me a 3.5 in classes where I probably would've been lucky to get a 2.5 in lol. And those weren't even tech classes.

I wonder what it'll take for it to get to a point where it can actually do research on the topic your talking about and learn concepts in order to give you an actual educated answer

AI gang we lost

AI in it’s current state is just a glorified web scraper with a third world back end.

Started reading some of the interviews in the GS report directly. Found this point interesting. "Reinvestment" as a surplus burning venture to drum up bubbles. The whole mechanism of corporate profitability is incentivised to create these unsustainable cycles.

Will read later but this makes 100 percent sense to me

All AI has done these last few years is eat up a bunch of electricity to put out tons of bullshit that at best is kind of interesting for a little bit

S/o AI ruining Google search more than it was already f***ed

This smiley is one of the very few good things AI has made

"The report is highly critical of the AI hype cycle, arguing that generative AI cannot do many jobs well and is simply a "regurgitation of the past" rather than a revolutionary technology."

AI is crypto 2.0

latest bullshit tech nerds dive into to make a quick buck, its all a ponzi scheme and you can see it in every AI video "innovation"

happy to see recent technological 'advancements' not working out at all as expected

They’re not inside the companies with the latest models so their projections are pretty meaningless

If there’s another gpt4 level leap, it would change their whole a***ysis

Also obviously early stage stuff rn is very expensive

time.com/6975934/google-deepmind-alphafold-3-ai

This in itself, is hundreds if not thousands of years worth of human research that was accomplished in a few years

Finally

It's too easy to use and spread to be monitized

not going anywhere but i get their gist..

as iPhone is to smartphones, they're still looking for what that product will be for AI.