Mastodawn

AI Added ‘Basically Zero’ to US Economic Growth Last Year, Goldman Sachs Says https://gizmodo.com/ai-added-basically-zero-to-us-economic-growth-last-year-goldman-sachs-says-2000725380 😂😂😂

So far AI has done more damage than adding any true value to productivty unless you consider the following as plus points:

* Getting staff fired
* Stealing journalist, book authors, or artists’ work
* Environment impact
* Hallucinations that caused harm and loss of life
* Creating undressing images of minors and woman
* The list list endless and you have to be psychopaths to like this

AI Added 'Basically Zero' to US Economic Growth Last Year, Goldman Sachs Says

Imported chips and hardware mean the AI investments are translating into US GDP growth.

Gizmodo

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Ms Ngo Feb 24

@nixCraft They do, in fact, see "getting staff fired" & “stealing ... work" as "plus points" & are worth the harms caused. They are not concerned about growing the economy so much as 'maximizing shareholder value' & the corresponding boost to their bonuses.

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MatthewToadAgain Feb 25

@causticmsngo @nixCraft Not even that.

It's a bubble. They're not concerned about maximising long term shareholder value, which in most cases is their actual fiduciary duty (e.g. pension funds own a large proportion of the economy in many countries).

They're only concerned about temporarily boosting share prices. Which is **not** the same thing.

Because when the bubble bursts, they'll time it right and short it on the way down. Or so they hope.

Or, as CEO, they'll have moved on to another job by then.

And they temporarily boost share prices by jumping on the latest bandwagon, propping up the bubble for a while longer before it pops.

Meanwhile, "AI" drives new fossil fueled power stations, steals water as well as intellectual property, along with all the other harms it does.

Plus, fire and rehire as a bonus.

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MatthewToadAgain

@causticmsngo @nixCraft On the upside, if Goldman Sachs is right, the bubble bursting might not lead to recession and a risk of a full blown financial crisis.

Which would be nice.