AI is a bubble
This insightful article from Mises Institute makes the case that Artificial Intelligence is misunderstood,
It's promoted as this buzzing trend that will take-over every industry. When in fact, all the evidence points to the opposite. They are losing money and nearly all commercial application have failed.
-OpenAI, leader in LLMs loses $5 billion a year, and there is no path to profitability.
"The losses only expand with the more customers the company signs up and the better their model gets."
-Air Canada tried to use AI for customer service, but it made so many mistakes, that it sent waves through the industry. It gave out discounted airfare causing the company to bleed out and the court ruled against them.
-Google’s new AI summary at the top of the search page takes roughly 10 times more energy to produce than the search itself and has near zero end-user utility according to numerous reliable polls.
-Many of the AI demos have been proven to be fake by whistleblowers, from OpenAI to Google.
-AI has ruined search engine results with worthless dribble
Don't make the mistake that others are by investing in this. Let's dive into this amazing article on the rampant corruption of money-losing AI,
https://mises.org/mises-wire/artificial-intelligence-next-easy-money-bust
Not to mention that since Big Tech, which is very invested in AI, is completely propping up the fiat stock markets. And so when it does eventually crash, it's going to be quite bad.
And its ruining nostr with the replyguy/girls.
SV and the "industry" have been doing this for years. They brought us YouTube, smartphones, a bunch of business cases most of us don't even know about, and then it existed and they needed to find more reasons to exist to justify their valuations, almost all of which is VC money pouring in. The whole tech industry is a bubble.
So they do this. A new hype cycle every couple of years. Some new thing that's supposedly going to change the world. But the truth is they haven't really revolutionized jack shit since Facebook and YouTube and the iPod touch came out. A decade or so they iterated improvement, which is valuable, but they've been trying to convince us that VR and AI and whatever else is going to change how we live and it's all a giant scam now.
I’ve been rather underwhelmed with AI. I just installed a Brave extension called “Goodbye Google AI” that removes the useless AI drivel from my search results.
I know AI can create some really beautiful (but creepy) artwork and whatnot. Maybe I’ll use it to design a logo or something one day but, by and large, it just seems like a bunch of hype.
I’d prefer to see all that CPU power go into Bitcoin mining personally.😀
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