AI is a bubble
This insightful article from Mises Institute makes the case that Artificial Intelligence is misunderstood,
It's promoted as this buzzing trend that will take-over every industry. When in fact, all the evidence points to the opposite. They are losing money and nearly all commercial application have failed.
-OpenAI, leader in LLMs loses $5 billion a year, and there is no path to profitability.
"The losses only expand with the more customers the company signs up and the better their model gets."
-Air Canada tried to use AI for customer service, but it made so many mistakes, that it sent waves through the industry. It gave out discounted airfare causing the company to bleed out and the court ruled against them.
-Google’s new AI summary at the top of the search page takes roughly 10 times more energy to produce than the search itself and has near zero end-user utility according to numerous reliable polls.
-Many of the AI demos have been proven to be fake by whistleblowers, from OpenAI to Google.
-AI has ruined search engine results with worthless dribble
Don't make the mistake that others are by investing in this. Let's dive into this amazing article on the rampant corruption of money-losing AI,
https://mises.org/mises-wire/artificial-intelligence-next-easy-money-bust
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2024-09-10 13:26:33
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npub14slk4lshtylkrqg9z0dvng09gn58h88frvnax7uga3v0h25szj4qzjt5d6Published at
2024-09-10 13:26:33Event JSON
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"content": "AI is a bubble\n\nThis insightful article from Mises Institute makes the case that Artificial Intelligence is misunderstood,\n\nIt's promoted as this buzzing trend that will take-over every industry. When in fact, all the evidence points to the opposite. They are losing money and nearly all commercial application have failed.\n\n-OpenAI, leader in LLMs loses $5 billion a year, and there is no path to profitability.\n\"The losses only expand with the more customers the company signs up and the better their model gets.\"\n\n-Air Canada tried to use AI for customer service, but it made so many mistakes, that it sent waves through the industry. It gave out discounted airfare causing the company to bleed out and the court ruled against them.\n\n-Google’s new AI summary at the top of the search page takes roughly 10 times more energy to produce than the search itself and has near zero end-user utility according to numerous reliable polls.\n\n-Many of the AI demos have been proven to be fake by whistleblowers, from OpenAI to Google.\n\n-AI has ruined search engine results with worthless dribble\n\nDon't make the mistake that others are by investing in this. Let's dive into this amazing article on the rampant corruption of money-losing AI,\nhttps://mises.org/mises-wire/artificial-intelligence-next-easy-money-bust",
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