It is ‘nearly unavoidable’ that AI will cause a financial crash within a decade, SEC head says::undefined

  • spudwart@spudwart.com
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    1 year ago

    Is it because replacing employees with AI results in a never-ending cascade where your stupid system doesn’t keep consuming because AI don’t consume and won’t get paid?

    Or is it because using AI will result in the climate to continually become more inhospitable?

    Maybe it will be because AI will be used to create more and more believable misinformation that results in WW3?

    • AggressivelyPassive@feddit.de
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      1 year ago

      Currently, I would rather guess it’s the usual bubble popping. AI has attracted billions of investments and will likely pull in even more, but it’s already foreseeable, that hardly any of the investments will turn a profit. So we’ll end up with a third dotcom bubble.

      • Leate_Wonceslace@lemmy.dbzer0.com
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        1 year ago

        AI isn’t a bubble. The futurist/Rationalist/transhumanist communities were saying what’s happening now would happen in a few years about a decade ago, and our predictions are that the next phase is AI taking over all labor through sophisticated automation. We’ve been trying to warn everyone about this since the advent of Google Deep Dream, but sure stick your head in the sand again and let the world burn around you; it’s worked so well so far.

        This comment will probably get bombed, but w/e. 🤷‍♂️ Go ahead and be ignorant and angry at me, I’m used to it.

        Edit: yes I am bitter. I’ve had a bad day, and I’m annoyed.

        • AggressivelyPassive@feddit.de
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          1 year ago

          How many times has that been predicted already? Three, four? Look at the history of AI, it happens every few years.

          Anyway, you’re implying a dichotomy here. World domination or pipedream, but that’s not the case. The dotcom bubble was without a doubt a bubble, but much of the underlying technology was used a few years later, just without the hype and fanfare.

          AI will probably find its uses, and has the potential to eliminate a lot of jobs, but the current iteration of AI businesses is utter garbage. Even something as comparatively simple as Microsoft’s Copilot is currently losing money - roughly as much as it costs to use. Yet, there are billions upon billions being poured into useless start-ups that will never produce anything of value in a profitable manner.

          What exactly happened to self driving cars BTW? Weren’t those totally on track of what experts predicted?

    • Tar_Alcaran@sh.itjust.works
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      1 year ago

      I’m thinking yes, plus AI margin trading running into a tragedy of the commons where they collectively run the stock market into the ground and there’s no reset button on that.