Will the popping of the so called "AI" bubble have any long term effects? Discuss.
The late 90s dotcom bubble failed to kill what we used to call world wide web. Instead it kickstarted turning into the small scale web into the monetized, finacialized, gamified, pornified and enshittified behemoth we are all forced to use every single day. LLMs and generative so called "AI" is the latest product of this on-going process.
"AI"'s sole innovation is that it steals all it needs to generate it's gibberish when it should be paying hundreds of trillions to the owners and creators of all the worlds artistic endeavors. It legalizes theft, or rather legislators look the other way when LLMs admit to committing wholesale theft of artistic works.
When model collapse finally happens or something else pops the bubble the shit will really hit the fan. Vast numbers of business and individuals will all discover that they all spent huge sums of money on hot air and marketing hype. The resultant backlash will bankrupt all the "AI" peddlers overnight.
None of this will have a long lasting effect on the global economy.The dotcom crash staggered the world economy, the 2008 financial crisis dealt it a severe blow. So did the COVID pandemic. Wars in Ukraine and elsewhere caused many severe problems. The world economy carried on through all of them. By the standards of economists it is stronger and healthier than it ever was.
Its this insane global economy that creates things like the "AI" bubble. The economy is a vast machine for extracting money from human endeavor and natural resources of all kinds. Furthermore, it concentrates all that money into the hands of a vanishingly small number of people. The rest of humanity simply starves in freezing hovels.
The "AI" bubble is not the problem. To rewrite and probably ruin an old American campaign slogan, "Its the global, neo-liberal, finacialized, economy stupid".
#AI #LLMs #Economics #GlobalEconomy #AIBubble #EconomicBubble #ModelCollapse
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