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Paul Cantrell :
Huh. Goldman Sachs makes two surprising claim: one obvious but surprising to hear coming from •them•, and one just surprising.
The obvious-but-wow-they-said-it part: current AI is expensive, unreliable, intrinsically limited:
“To justify costs, [AI] must be able to solve complex problems, which it isn’t designed to do…not a matter of just some tweaks…the tech is nowhere near where it needs to be in order to be useful for even basic tasks”
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https://www.404media.co/goldman-sachs-ai-is-overhyped-wildly-expensive-and-unreliable/This part gave me a grim chuckle (this is 404 Media, inner quote is from Goldman):
“The paper ultimately questions whether generative AI will ever become the transformative technology that SV and large portions of the stock market are currently betting on, but says investors may continue to get rich anyway. ‘Despite these concerns and constraints, we still see room for the AI theme to run, either because AI starts to deliver on its promise, or because bubbles take a long time to burst.‘”
2/