tekJul 14, 2024
AI is overhyped and unreliable -Goldman Sachs

https://www.404media.co/goldman-sachs-ai-is-overhyped-wildly-expensive-and-unreliable/

"Despite its expensive price tag, the technology is nowhere near where it needs to be in order to be useful for even such basic tasks"

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Goldman Sachs: AI Is Overhyped, Wildly Expensive, and Unreliable

One of the world's largest investment banks wonders if generative AI will be worth the huge investment and hype: "will this large spend ever pay off?"

404 Media
Show threadgedaliyahJul 14, 2024

I remember saying a year ago when everybody was talking about the AI revolution: The AI revolution already happened. We’ve seen what it can do, and it won’t expand much more.

Most people were shocked by that statement because it seemed like AI was just getting started. But here we are, a year later, and I still think it’s true.

Show threadOutlierBlueJul 14, 2024

The AI revolution already happened. We’ve seen what it can do, and it won’t expand much more.

That’s like seeing a basic electronic calculator in the 60s and saying that computing won’t expand much more. Full-AI isn’t here yet, but it’s coming, and it will far exceed everything that we have right now.

Show threadturmacar

Sure.

GPT4 is not that. Neither will GPT5 be that. They are language models that marketing is calling AI. They have a very specific use case, and it’s not something that can replace any work/workers that requires any level of traceability or accountability. It’s just “the thing the machine said”.

Marketing latched onto “AI” because blockchain and cloud and algorithmic had gotten stale and media and CEOs went nuts. I Samsung is now producing an “AI” vacuum that adjusts suction between hardwood and carpet. That’s not new technology. That’s not even a new way of doing that technology. It’s just jumping on the bandwagon.

Jul 14, 2024 at 8:45pmWeb
Show threadaestheleteJul 15, 2024

Marketing latched onto “AI” because blockchain and cloud and algorithmic had gotten stale and media and CEOs went nuts.

Notably, this also coincided with the first higher interest rate environment in the broader economy in over a decade.