Top economist warns that the AI math doesn’t make sense: 'Profits are currently being funded by investors rather than earned from customers' | Fortune
fortune.com
The AI boom has turned the standard profit margin model on its head, according to Apollo Chief Economist Torsten Slok—and it’s making the industry’s growth unsustainable.
    • joe@lemmy.worldEnglish
      1·
      17 days ago

      As far as I am aware, AGI does not imply sapience, consciousness, or whatever. You seem to believe it does. A high level Google search seems to suggest that I’m correct. Is there some reason you are lumping sapience with AGI?

      I’m not sure if the rest of your comment presupposes this, so I’ll wait to comment on where I think you’re mistaken.

        • joe@lemmy.worldEnglish
          1·
          17 days ago

          I dont believe it requires sapience; that is what the marketers are saying. The AI boom (and many historic boom cycles) is predicated on marketing and sentiment, not facts and data. That is why they always pop; the facts dont back up the hype.

          I think there is some confusion. I do not believe AGI implies sapience, nor does Google, and now it seems that you don’t either. So who is discussing sapience?

          If this is working, where’s the company with runaway success creating unimagined leaps in productivity and technology?

          Hypothetically speaking, what do you think this would look like?

            • joe@lemmy.worldEnglish
              1·
              17 days ago

              I think that if this were successful…

              What it would look like is layoffs from a company without a change in output/productivity. Notably, we’re not at AGI yet, so I wouldn’t expect sci-fi levels of change.

                • joe@lemmy.worldEnglish
                  1·
                  17 days ago

                  There would necessarily be a lag time between layoffs and unchanged productivity. And even then, if we’re being fair, that’s not conclusive evidence of AI being useful; it could just be that they had more employees than they needed.

                  My point is more that I’m not sure we’d see an obvious sign that AI was changing the market yet.