OT: Stock and Investment Talk

[RuSnp]

AI Can Only Do 5% of Jobs, Says MIT Economist Who Fears Crash​

"As promising as AI may be, there’s little chance it will live up to that hype, Acemoglu says. By his calculation, only a small percent of all jobs — a mere 5% — is ripe to be taken over, or at least heavily aided, by AI over the next decade. Good news for workers, true, but very bad for the companies sinking billions into the technology expecting it to drive a surge in productivity...

“A lot of money is going to get wasted,” says Acemoglu. “You’re not going to get an economic revolution out of that 5%.”

Acemoglu has become one of the louder, and more high-profile, voices warning that the AI frenzy on Wall Street and in C-suites across America has gone too far. ..

Jensen Huang, CEO of Nvidia, a company whose very name has become synonymous with the AI boom, has projected that rising demand for the technology’s services from a broader range of companies and governments will require as much $1 trillion in spending to upgrade data center equipment in coming years.

Skepticism about these sorts of claims has started to mount"

https://finance.yahoo.com/news/ai-only-5-jobs-says-130000997.html

Nvidia and hype go hand in hand.
Its the gov that really wants AI bad

5% over the next decade feels silly low. But we shall see.

 

[ashokan]

5% over the next decade feels silly low. But we shall see.

Like electric cars, the push for AI is taking place with a power grid being spectacularly neglected. The sincere impulses to help people isn't there.

CBDC, gov health "passports" monitoring/censoring speech, driving, facial recognition, tracking people's spending/finances etc - this is why gov is pushing AI hard. IRS wants to be able to send bills to people saying the "AI says you owe $______ ."

AI is about control and its being built into new phones in spooky ways

Amid explosive demand, America is running out of power​

AI and the boom in clean-tech manufacturing are pushing America’s power grid to the brink. Utilities can’t keep up.​

https://www.washingtonpost.com/business/2024/03/07/ai-data-centers-power/

Due to AI, “We are about to enter the era of mass spying,” says Bruce Schneier

Schneier: AI will enable a shift from observing actions to interpreting intentions, en masse.

arstechnica.com

Beware - "its all for you - we will control everything for your safety"

FACT SHEET: President Biden Issues Executive Order on Safe, Secure, and Trustworthy Artificial Intelligence | The White House

Today, President Biden is issuing a landmark Executive Order to ensure that America leads the way in seizing the promise and managing the risks of

www.whitehouse.gov