As you may know, I think and live in the light of reality. The developers of AI don’t. I will get to that.
For myself ( academic, author and researcher) so far, AI has been a complete blessing. What I can accomplish in little time and effort now is amazing. But…. I don’t pay anyone a dime.
The first question I asked is: What exactly is going to be the profit engine that enriches those who are expecting to get rich?
AI will definitely do these things.
Boost productivity: AI automates tasks, letting people do more valuable work.
Create new products/services: AI helps build new offerings, like personalized shopping or AI-generated art.
Improve existing operations: AI makes things like manufacturing or customer service more efficient.
Personalize everything: AI understands customers better, leading to more targeted marketing and sales.
Trying to personalize everything will lose money for them. Online vendors are clueless when it comes to anticipating consumer demand. There is nothing new in online marketing. Consumers are immune to their marketing techniques. They are completely cost – conscious and are becoming irritated at those who assume they know what folks are thinking.
I haven’t found a way AI will be used in every home in the United States alongside computers, etc. That may be forthcoming.
Here is where the war begins. Furious competition will develop within the AI community. Aspiring AI profiteers will try to destroy one another. AI search engines are biased with respect to any search where the answer could possibly raise doubts about the existing order of things. Nothing critical of the Affordable Care Act will ever be said. As an experiment, try an AI answer to “Who killed JFK ?” Only Baidu’ AI search lists other possibilities. The Facebook AI search is so biased that it is ridiculous. AI searches are all biased but not near to the extent traditional search engines are. AI will never be perfect. AI is quite inept at abstract thinking. The only human nature it understands is that of those who developed it.
There are no genuine traditional search engines. Google is an advertising company. You only see what Google wants you to see. The emergence of AI will compromise Google greatly. The following are previous posts that focus on the headwinds big tech faces.
Because of AI’s enormous costs, lobbying efforts will be made to gain government subsidies. Those may be forthcoming but this is not a good time to ask taxpayers for monetary gifts.
Searching For a Search Engine
AI searches will break the backs of most tech companies. Big tech cannot prosper if they are unable to control and manage what people think and do. They are already losing that battle. Big Tech had already been losing this battle prior to the advent of AI and its bubble, albeit not stock prices.There are many elephants in the room that no one sees.
AI will be with us from now on. It will greatly enhance the efforts of academics. It will cause the loss of jobs. New jobs will be found. This always happens when superior technology is introduced.
Most importantly, the initial market failures of AI entrepreneurs will crash the stock market and usher in the 2nd great depression – one even greater than the first one.
They are selling what the public will never buy. AI will eventually then be put to higher and better uses as time passes. The second rat will get the cheese.
That concerns me greatly. A large trade deficit means that there is prosperity in our population. We have surplus money to spend and a lot of it is buying goods from other countries like China. What do the Chinese do with their profits? They either spend it on what our service economy offers or they invest in our capital markets. That balances our capital account and everything is even.
Democracy serves whoever holds political power. That’s the whole trick .Everything else is decoration.