It is 'nearly unavoidable' that AI will cause a financial crash within a decade, SEC head says::undefined

  • AggressivelyPassive@feddit.de
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    1 year ago

    How many times has that been predicted already? Three, four? Look at the history of AI, it happens every few years.

    Anyway, you're implying a dichotomy here. World domination or pipedream, but that's not the case. The dotcom bubble was without a doubt a bubble, but much of the underlying technology was used a few years later, just without the hype and fanfare.

    AI will probably find its uses, and has the potential to eliminate a lot of jobs, but the current iteration of AI businesses is utter garbage. Even something as comparatively simple as Microsoft's Copilot is currently losing money - roughly as much as it costs to use. Yet, there are billions upon billions being poured into useless start-ups that will never produce anything of value in a profitable manner.

    What exactly happened to self driving cars BTW? Weren't those totally on track of what experts predicted?