Part of me feels the fact that EVERYONE is saying that there’s a huge AI bubble makes me wonder if there’s actually a possibility there isn’t an AI bubble. Because I was around for the dot com and GFC bubbles and no one (not really) saw those coming. Also, China is pretty much doing everything right these days, and they seem to believe in AI too.
And I’m not against AI in any and all forms. Like, I think there’s huge potential in translating foreign languages. I think it would be cool if people could talk in their native languages but have AI translate things perfectly - which I understand is something AI can do. There are some simple functions in my job (like searching through and summarizing things from our very massive list of policies). But even thinking about the absolute best case scenarios for AI, I can see how the current expectations are even close to what the reality can be.
So what is the argument that we’re not in a bubble, even if we don’t actually believe it?
generative AI has eaten all the legitimate machine learning things and made a bunch of absurd promises that are obviously undeliverable to anyone smarter than an MBA. there’s also the wild circlejerk of investment between nvidia, open ai, and some other companies. taken together that’s what people are talking about with “AI bubble”
Yeah, there’s still a lot of quiet non-generative AI things still humming along in the background and being useful in their way, but those aren’t the types of AI that let CEOs dream of cutting 90 percent of their labor costs, so they aren’t talked about much