This is a hugely important insight, Peter! The world’s economy is setting itself up to be based on a technology that will end up being regarded as inaccurate, biased, unstable, lacking credibility, and generally laughable. You’ve also mentioned that the data input required for LLMs is so huge as to be unsustainable.
What will happen to the 1.2 trillion-dollar investment for AI tech promised by Saudi Arabia in the U.S. economy? Will the failure or cancellation of this investment precipitate a financial collapse? (And this is just one scenario!)
Another implication is that analysts such as yourself who are fact-based, evidence-based, highly intelligent, knowledgeable and wise will be needed to sort fact from AI-generated nonsense. I hope you’ve got an extra 347 million hours, Peter.
After the 1996 Telecom Deregulation Act, which unlocked Digital Subscriber Line technology and for a time made "unbundling" a key feature of business models for the small Internet Service Provider, there was an explosion of technology related investment.
In particular, telecommunications companies invested huge amounts of money in building out fiber-optic networks--so much so that at one point it was projected to take years for enough demand for bandwidth to develop in order to effectively utilize all the infrastructure being built out.
Then came the 2001 recession and the "dot com bomb", when many of those technology-related investments came crashing down.
Now we are seeing new demands for data centers being driven by a mad dash for relevance in AI.
I will not be a bit surprised if it should prove that we are in the early stages of an "AI Bubble", with speculative investment in AI is being driven by that same mania of chasing "the next big thing".
The rhyming of recent history will be an "AI Apocalypse" replicating the stock market horror of the "dot com bomb."
Except it will likely be a much bigger crash, right, Peter? And the Sage of San Antonio, Peter Nayland Kust, has the insightful intelligence to see it coming, before any of the guys with the dollar signs flashing in their eyes.
This is a hugely important insight, Peter! The world’s economy is setting itself up to be based on a technology that will end up being regarded as inaccurate, biased, unstable, lacking credibility, and generally laughable. You’ve also mentioned that the data input required for LLMs is so huge as to be unsustainable.
What will happen to the 1.2 trillion-dollar investment for AI tech promised by Saudi Arabia in the U.S. economy? Will the failure or cancellation of this investment precipitate a financial collapse? (And this is just one scenario!)
Another implication is that analysts such as yourself who are fact-based, evidence-based, highly intelligent, knowledgeable and wise will be needed to sort fact from AI-generated nonsense. I hope you’ve got an extra 347 million hours, Peter.
We have been here before.
After the 1996 Telecom Deregulation Act, which unlocked Digital Subscriber Line technology and for a time made "unbundling" a key feature of business models for the small Internet Service Provider, there was an explosion of technology related investment.
In particular, telecommunications companies invested huge amounts of money in building out fiber-optic networks--so much so that at one point it was projected to take years for enough demand for bandwidth to develop in order to effectively utilize all the infrastructure being built out.
Then came the 2001 recession and the "dot com bomb", when many of those technology-related investments came crashing down.
Now we are seeing new demands for data centers being driven by a mad dash for relevance in AI.
I will not be a bit surprised if it should prove that we are in the early stages of an "AI Bubble", with speculative investment in AI is being driven by that same mania of chasing "the next big thing".
The rhyming of recent history will be an "AI Apocalypse" replicating the stock market horror of the "dot com bomb."
Except it will likely be a much bigger crash, right, Peter? And the Sage of San Antonio, Peter Nayland Kust, has the insightful intelligence to see it coming, before any of the guys with the dollar signs flashing in their eyes.
You are so impressive!
Every crash tends to be bigger than the last.
The S&L crash was dwarfed by the derivatives crash during the GFC.
The dot com bomb will be dwarfed by the AI Apocalypse.
This is the order of things on Wall Street.