[T]he AI bubble is driven by monopolists who've conquered their markets and have no more growth potential, who are desperate to convince investors that they can continue to grow by moving into some other sector, e.g. "pivot to video," crypto, blockchain, NFTs, AI, and now "super-intelligence." Further: the topline growth that AI companies are selling comes from replacing most workers with AI, and re-tasking the surviving workers as AI babysitters ("humans in the loop"), which won't work. Finally: AI cannot do your job, but an AI salesman can 100% convince your boss to fire you and replace you with an AI that can't do your job, and when the bubble bursts, the money-hemorrhaging "foundation models" will be shut off and we'll lose the AI that can't do your job, and you will be long gone, retrained or retired or "discouraged" and out of the labor market, and no one will do your job. AI is the asbestos we are shoveling into the walls of our society and our descendants will be digging it out for generations [..]
The only thing (I said) that we can do about this is to puncture the AI bubble as soon as possible, to halt this before it progresses any further and to head off the accumulation of social and economic debt. To do that, we have to take aim at the material basis for the AI bubble (creating a growth story by claiming that defective AI can do your job).
Schlagwort: Wirtschaft
AIsbestos.
Zelf het doe.
Als .NL niet in staat is .NL te beheren is dat als een restaurant dat z’n maaltijden bij thuisbezorgd.nl inkoopt.
Eurolectricity.
The Spanish-Portuguese wholesale market intervention is a thought-through instrument that has, despite significant drawbacks, merits for the specific context. However, three conditions need to hold to make the intervention work as intended: little interconnection to neighbouring countries, an unconstrained gas market, and only limited forward hedging. In many European countries outside the Iberian Peninsula, none of these prerequisites holds.
To mitigate the impact of high energy prices, targeted measures such as income support (e.g. Bethuyne et al. 2022) are better policies than an intervention in the wholesale market.
Krisenkurve.
There was no discernible signal in the data from the global economic disruption caused by the coronavirus pandemic.
NOAA Research: Carbon dioxide peaks near 420 parts per million at Mauna Loa observatory
Londsterdam.
You’ve spent time in Amsterdam, which may give you some idea of what London is like, except that London is not nearly as well organized.
Neal Stephenson: Quicksilver