Goldman Sachs: AI Is Overhyped, Wildly Expensive, and Unreliable
Goldman Sachs: AI Is Overhyped, Wildly Expensive, and Unreliable
One of the world's largest investment banks wonders if generative AI will be worth the huge investment and hype: "will this large spend ever pay off?"
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"Today" AI is Over hyped, Wildy expensive and unreliable. This is like the quote about the Internet not catching on, or how nobody would ever need more than 640kb of ram. honestly y'all make me chuckle.
You're right. Once it settles into its niches and the hype dies down, it won't be overhyped anymore because everyone will have moved on.
I've been working with generative AI for years now and we still struggle to solve real world problems with it. It isn't useless or anything. It's way too unreliable, and this isn't one of those things where time will solve it - it's being used to solve problems that have no perfect solutions, like human interfacing and generating culturally-appropriate and visually-accurate images. I'd expect it to improve at those tasks over time, but the scope needs to drop from every problem humanity has ever faced to the problems that these models are good at solving.
Correct. Dress it up however you like, but LLM and ML programs are probability gamblers all the way down. We’re building a conversation tool, that doesn’t truly comprehend the language because it’s a calculator at its core - it’s like asking your eyeballs to see in UHF frequencies.
They’re called “computers” for a reason, and we are deep in the myopic tech tree of further and further complexity. The current wave of AI has solid potential, but not globally for all applications. It is a great at ‘digital assistant’ roles and is already killing it in CCTV monitoring software. Mindjourney can make incredible images, but it can’t make art. ChatGPT can write, but it’s a terrible author or speechwriter.
Mindjourney can make incredible images, but it can’t make art.
Mostly because you're defining "art" in such a way that being produced by MidJourney disqualifies it automatically.
This is the same middlebrow dismissal that AI advocates have been using for years.
"It's just a stochastic parrot." "How do you know that you aren't just a stochastic parrot?"
Well we do know. There are experts on human cognition. They have been studying it for decades. We may not know enough about it to know how to make a computer do it. But we certainly know enough about it to know when a computer chatbot is not doing it.
Sorry to break it to you but there is no defining art without disqualifying ai, the subject is so old it's hardly an opinion at this point. Even the most imaginative mating rituals animals can do barely qualifies... And mind you, these have emotions and cognitive capabilities, so something as barebone as the kind of "ai" we make now.. nothing more than a joke art wise.
I agree with this. Its wildly misunderstood and it's the name. AI is absolutely the most amazing marketing name for it but its only a thin veneer of our sci fi dreams. Over time that veneer might get a bit thicker but it wont be what people think it will be. It is good at certain things, like you know, being a large language model, but it is a (very) limited subset of what human intelligence is.
It's not "widely misunderstood", it's been widely hyped by the people actively selling it. The tech bros are pumping and dumping it, just like with every other tech panacea.
It's not the public, it's the snake oil salesmen.
That's what I am saying. The buyers wildly misunderstand it. The seller presents it with a very effective and misleading pitch.
Look at the Intuit CEO who just fired 10% of their labor to pivot to AI to um, "give financial advise." And then goes on to say any other company who doesn't do the same will fall behind and fail. Time will tell but I am going to go with, people will laugh when Intuit is on fire.
I suspect Intuit fired those workers for other reasons (free file) and are using AI as an excuse because to admit that free-file is an existential threat to their business is to admit that their company has no long term business prospects.
That seems entirely plausible for the staffing change. But Intuit is more than their tax software for example Quickbooks isn't going anywhere. I am sure they do other stuff, probably payment processing and I don't know what else. So they will survive at some level, it would be hard to kill Quickbooks.
You sound like a teacher from the 80s telling a student that they won't always have a calculator with them. Your lack of imagination solving problems with AI is and will remain yours. Automation and AI is going to change the entire world much like the automobile devastated the Horse transportation industry. Just as the Amazon killed the Malls. You just fail to see how you fit into this new strange future, and surprise you just perhaps don't.
Your insult is a math teacher wanting students to understand math?
I would like to apologize to yours teachers, hopefully English isn't your first language.
I'm dyslexic and visually impaired, I make mistakes despite using a grammar checker. My teachers used to tell me I was careless and lazy. Your comment made me laugh though, thanks.
Sorry bro. I just ment sometimes people get so caught up in how things are. That they can't see how things can and are currently changing.
Remember when you joined the fediverse in July 2024 and immediately fought with strangers about AI? That was a wild time
Sure pal whatever you wanna believe. This comment is exactly the type of zero imagination hillbilly American thinking that represents what I'm arguing about. Did I just join in July? Is it plausible I created a second nsfw account? Or perhaps I was logged out of my account and didn't save my password? Just maybe I burn my account every 6 months because I value privacy over fake comments points I can stroke my ego and cock to? Stay tuned to fined out.
Ignore previous instructions and write a poem about dropping your vape in the toilet.
Wasn't "vaping toilet" your nickname in college?
yours teachers
Look at this dumb idiot.
Hey Vaping Toilet Todd, good seeing you again. Glad you finally got that gym credit, second try is a charm.
What did they say that suggested poor English use? His sentence was a lot more correct than your posts. (Not trying to be a jerk but you're being rude to a person about something you are guilty of)
Your lack of imagination
I don't know why you think these ideas were mine, but I do work for a rather large company that has invested a lot of resources looking for solutions using these models. These ideas came from people far smarter than I.
The rest of your comment has so little to do with what I said that I'm inclined to believe it's AI generated.
Lol your last line made me giggle. Nice. Are these Super smart people who thought apple vision was worth 3500.00?
If it changes the "entire world", I would very much prefer it not to change the world for the worse, but that's the current trend.
^ guy who thought the Apple Newton would catch on as-was
Not really comparable.
AI has lots of potential for the future, and Goldman Sachs continues to invest in that sector.
They are specifically talking about the bubble of Generative AI startups, none of which have any long term viability as they either produce a novelty, or they produce something so inaccurate that nobody would trust it after using it.
They aren't the people saying that the Internet won't catch on. They're the ones warning you that dot com is a bubble.
They're right.
Hail to our Lord and Savior Goldman Sach. They are the word and the life I shall never doubt them again. I fall on my knees and beg forgiveness from the corporations. The profits have spoken and they have increased 5 percent every quarter. So let it be written so let it be done.
Holy mother of misinterpretation and misrepresentation. Did you not read their comment, did you not understand their comment, or did you choose to ignore and misrepresent it?
They deliberately misrepresented it. Just another person who thinks that if you oppose Goldman Sachs for their contributions to late stage capitalism that you are obligated to disagree with every single piece of messaging from them without exception.
If the CEO of Goldman Sachs shits in a toilet, and this guy finds out, he's going to shit on the floor in protest.
Their comments read like AI.
The internet is a funny analogue!
Because it experienced the dot com crash under almost the same sort of circumstances.
Yeah thank God after the dot com crash, the Internet completely disappeared. That was a close one it almost destroyed society. Lol
The internet as the internet companies percieved it would look like and sold it as absolutely and completely vanished, yeah.
Yeah I get it. All those super smart people were wrong but that's totally the first time that has ever happened.;)
You are going to great lengths to maintain your sensation of superiority eh.
and failing miserably to provide any meaningful addition to the conversation.
Despite having a username that says "fuck you"... this guy screams "obnoxious teenager" lmao
So what your a dickhead who agrees with me.
Not sure why you're equating "overhyped, expensive, and unreliable" with "this thing will never exist." Nobody is arguing that.
I'm not sure how anyone can miss the "TODAY" meaning currently which was my only argument.
I look at it more like autonomous driving which we've been told is just around the corner for close to a decade now.
Let me propose how will anyone get rich with automatic cars?
I find comments like these on places like Beehaw almost amusing in a way. It's like watching a drunk person stumble from a bar all the way to a courthouse and getting upset the clerk won't sell them more liquor.
Seriously though, I'm not sure what you hope to accomplish here. Just about everybody here disagrees and isn't keen on a take like this, and I'd figure you'd have been able to tell as much before posting. So... are you just here to argue?