Comment on Wall Street’s AI Bubble Is Worse Than the 1999 Dot-com Bubble, Warns a Top Economist
bobs_monkey@lemmy.zip 2 days agoIf I had to guess, the entire reason they’re shoving AI integration into absolutely everything is to try to make it irreplaceably viable, if only to keep it relevant. The bubble pops when VC funding decides that maybe AI isn’t the holy grail they thought it was and the market on it tanks (bringing every associated stock down with it). Personally, I’m wondering if this bubble is what brings the house of cards down with it, because the amount of money that is all in on AI is absolutely insane, and for no good reason.
turtlesareneat@discuss.online 1 day ago
That’s exactly it, they’re making themselves “indispensable” at the consumer level to hold on for dear life.
But, on the other hand, you have companies like Klarna that are successfully using AI to replace, in one case, 700 humans or 3/4 of their tier 1 support staff. And every other company perks up at that. There is definitely a use case for AI, it’s still improving, and business will keep it going in some form (which will be great for the poor neighborhoods they put the data centers in).
bobs_monkey@lemmy.zip 1 day ago
Don’t get me wrong, I certainly think AI/LLMs have their uses, more as an aid to humans. Medical diagnostics, front line customer service, clerical, every industry could benefit from having a computer doing basic to even advanced level support. What we’re seeing now though is all these execs think that the tech is at the level where it can replace entire workforces, and that’s where the fallacy lies. Imo, humans should always make the final judgement, especially when these decisions involve affecting other people. It has the ability to improve and enrich lives, but the way things are going is that they’ll be used to make the line go up at the expense of people.