95% of Companies See ‘Zero Return’ on $30 Billion Generative AI Spend, MIT Report Finds
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95% of Companies See ‘Zero Return’ on $30 Billion Generative AI Spend, MIT Report Finds
Over the last three years, companies worldwide have invested between 30 and 40 billion dollars into generative artificial intelligence projects. Yet most of these efforts have brought no real business…
The Daily Adda (thedailyadda.com)
They'll happily burn mountains of profits on that stuff, but not on decent wages or health insurance.
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95% of Companies See ‘Zero Return’ on $30 Billion Generative AI Spend, MIT Report Finds
Over the last three years, companies worldwide have invested between 30 and 40 billion dollars into generative artificial intelligence projects. Yet most of these efforts have brought no real business…
The Daily Adda (thedailyadda.com)
5% is Nvidia.
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Wtf?
Do I even have to point out the parts you need to read? Go back and start reading at sentence that says "In typical use in the Information Technology field however, the phrase is usually reserved for systems that perform more complex kinds of reasoning.", and then check out NLP page, or part about machine learning, which are all seperate/different reasoning systems, but we just tend to say "reasoning".
Not your hilarious NPC anology.
More complex forms of reasoning in the context of "Reasoning Systems" is video game NPC Ai. They take the current game state and "reason" about what action they should take now or even soon in the future. Really good video game Ai will use your velocity to pre-aim projectiles at where you'll be in the future instead of where you are currently. The NPC analogy is one of the very thing's being described by the term
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If you really want to be reductionist, it’s just electricity being fed through silicon. Everything is. Just 1’s and 0’s repackaged over & over!
But it shows a significant lack of insight and understanding. Guess you can make a ton of money with puts on all these companies, with that kinda confidence.
Please let me know what major breakthrough has happened recently in the machine leaning field, since you're such an expert. Throwing more GPUs at it? Throwing even more GPUs at it? About the best thing I can come up with is "using approximately the full text of the Internet as training data," but that's not a technical advancement, it's a financial one.
Applying tensors to ML happened in 2001. Switching to GPUs for deep learning happened in 2004. RNNs/CNNs was 2010-ish. Seq2seq and GAN were in 2014. "Attention is All You Need" came out in 2017; that's the absolute closest to a breakthrough that I can think of, but even that was just an architecture from 2014 with some comparatively minor tweaks.
No, the only major new breakthrough I can see over the past decade or so has been the influx of money.
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I've started using AI on my CTOs request. ChaptGPT business licence. My experience so far: it gives me working results really quick, but the devil lies in the details. It takes so much time fine tuning, debugging and refactoring, that I'm not really faster. The code works, but I would have never implemented it that way, if I had done it myself.
Looking forward for the hype dying, so I can pick up real software engineering again.
it makes sense to someone like me who is not a dev but works with coding at times, I don't get the experience to be quick with it.
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They'll happily burn mountains of profits on that stuff, but not on decent wages or health insurance.
Wages or health insurance are a very known cost, with a known return. At some point the curve flattens and the return gets less and less for the money you put in. That means there is a sweet spot, but most companies don't even want to invest that much to get to that point.
AI however, is the next new thing. It's gonna be big, huge! There's no telling how much profit there is to be made!
Because nobody has calculated any profits yet. Services seem to run at a loss so far.
However, everybody and their grandmother is into it, so lots of companies feel the pressure to do something with it. They fear they will no longer be relevant if they don't.
And since nobody knows how much money there is to be made, every company is betting that it will be a lot. Where wages and insurance are a known cost/investment with a known return, AI is not, but companies are betting the return will be much bigger.
I'm curious how it will go. Either the bubble bursts or companies slowly start to realise what is happening and shift their focus to the next thing. In the latter case, we may eventually see some AI develop that is useful.
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What up my fellow poors in the Silents? Damn, did not expect that.
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Computer science degrees being the most unemployed degree right now leads me to believe this will actually suppress wages for some time
That was always one of the main goals. They'd rather light a mountain of cash on fire than give anyone a thriving wage
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5% is Nvidia.
There are not enough
emoji in the world for this post.
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Please let me know what major breakthrough has happened recently in the machine leaning field, since you're such an expert. Throwing more GPUs at it? Throwing even more GPUs at it? About the best thing I can come up with is "using approximately the full text of the Internet as training data," but that's not a technical advancement, it's a financial one.
Applying tensors to ML happened in 2001. Switching to GPUs for deep learning happened in 2004. RNNs/CNNs was 2010-ish. Seq2seq and GAN were in 2014. "Attention is All You Need" came out in 2017; that's the absolute closest to a breakthrough that I can think of, but even that was just an architecture from 2014 with some comparatively minor tweaks.
No, the only major new breakthrough I can see over the past decade or so has been the influx of money.
Then sell your services as a consultant to these businesses, and let them know it’s not actually doing anything different. Let the researchers know that Ai cant possibly be finding cancer at better rates than humans, because nothing’s changed.
Let the world know they fell for it, setup puts against the companies, and make bank.
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it makes sense to someone like me who is not a dev but works with coding at times, I don't get the experience to be quick with it.
Yea
Vibe coding is for us armatures, who want the occasional hello world
I use it for programing home assistant, since I just can't get my head around the YAML.
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They'll happily burn mountains of profits on that stuff, but not on decent wages or health insurance.
Some of them won't even pay to replace broken office chairs for the employees they forced to RTO.
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95% of Companies See ‘Zero Return’ on $30 Billion Generative AI Spend, MIT Report Finds
Over the last three years, companies worldwide have invested between 30 and 40 billion dollars into generative artificial intelligence projects. Yet most of these efforts have brought no real business…
The Daily Adda (thedailyadda.com)
I'll take no shit for $500, Alex.
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Tech CEOs really should be replaced with AI, since they all behave like the seagulls from Finding Nemo and just follow the trends set out by whatever bs Elon starts
If I pinged my CEO over Slack and got back "You're absolutely right! Let me try that again" I might actually die from crying with joy.
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95% of Companies See ‘Zero Return’ on $30 Billion Generative AI Spend, MIT Report Finds
Over the last three years, companies worldwide have invested between 30 and 40 billion dollars into generative artificial intelligence projects. Yet most of these efforts have brought no real business…
The Daily Adda (thedailyadda.com)
How bad to you think this collapse gonna be? We gonna see a big name collapse into dust or we gonna see something akin to the Great Depression?
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95% of Companies See ‘Zero Return’ on $30 Billion Generative AI Spend, MIT Report Finds
Over the last three years, companies worldwide have invested between 30 and 40 billion dollars into generative artificial intelligence projects. Yet most of these efforts have brought no real business…
The Daily Adda (thedailyadda.com)
Imagine what the economy would look like if they spent 30 billion on wages.
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"Ruh-roh, Raggy!"
It's okay. All the people that you laid off to replace with AI are only going to charge 3x their previous rate to fix your arrogant fuck up so it shouldn't be too bad!
I charge them more than I would if I was just developing for them from scratch. I USED to actually build things, but now I'm making more money doing code reviews and telling them where they fucked up with the AI and then myself and my now small team fix it.
AI and Vibe coders have made me great money to the point where I've now hired 2 other developers who were unemployed for a long time due to being laid off from companies leveraging AI slop.
Don't get me wrong, I'd love for the bubble to burst (and it will VERY soon, if it hasn't already) and I know that after it does I can retire and hope that the two people I've brought on will quickly find better employment.
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How bad to you think this collapse gonna be? We gonna see a big name collapse into dust or we gonna see something akin to the Great Depression?
The AI bubble is going to be like the dot com bubble I think, but with the world being so heavily financialized it might spiral into something like 2008 or worse...
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95% of Companies See ‘Zero Return’ on $30 Billion Generative AI Spend, MIT Report Finds
Over the last three years, companies worldwide have invested between 30 and 40 billion dollars into generative artificial intelligence projects. Yet most of these efforts have brought no real business…
The Daily Adda (thedailyadda.com)
But it's okay, because MY company is AHEAD OF THE CURVE on those 95% losses
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They'll happily burn mountains of profits on that stuff, but not on decent wages or health insurance.
It's a game to them that doesn't take into consideration any human element.
It's like the sociopathic villains in Trading Places betting a dollar on whether or not Valentine would succeed. They don't really give a shit. It's all for the game that might result in throwing more money on their pile.