AI is overhyped and unreliable -Goldman Sachs
https://www.404media.co/goldman-sachs-ai-is-overhyped-wildly-expensive-and-unreliable/
“Despite its expensive price tag, the technology is nowhere near where it needs to be in order to be useful for even such basic tasks”
Financially? Yeah, AI is a bubble for sure. Gobs of money are being poured in with few results to show for it. That bubble will burst. But just like the dotcom bubble, that doesn’t mean the technology is useless or won’t change the world, just not instantly over night with a single investment, which is what the investment groups expect.
This technology requires finance. You can’t train a model without millions of dollars.
If the money goes the technology is dead until the cost of the training machines comes down a few orders of magnitude.
At least in the US, the research is fairly isolated from capital markets. The military pours huge amounts of money into research on new tech like this, often over ambitiously and with no real expectation of short term returns. Even if there is a financial bubble burst that shuts down a lot of the commercial operations, universities and military contractors will continue working and publishing papers improving the state of the art until industry decides it’s time to try commercializing it again. It’s the basic pattern that has brought us most of the major tech innovations in the US.