I heard that there would be a new Great Depression.
I’ve also heard a lot of different theories, and one of them interested me: after the bursting of the bubble, AI will not disappear anywhere, is it in vain that so many data centers were built? AI will be embedded everywhere, people won’t even be able to test how it works, “it works somehow, great!” because all human workers will be fired, not at once, of course, but gradually, In a few years, about 2-7 years to be exact(depending on the industry). And because of this, AI systems will begin to get out of control, this will cause incorrect diagnoses, failures in the banking system, arresting or killing innocent people by drones, and so on.
The reason I’ve explained this so poorly is because, in the first place, the topic of AI and the debate around it is terribly infuriating to me, and it’s obvious that the harm from AI won’t be able to compensate for the little benefit it will bring. Secondly, I use a translator, so my text may seem crooked, unnatural, or silly.
True answer: no one knows.
My guess: it seems very similar to the dot Com bubble. Once it pops a lot of companies will lose a lot of money in the valuation and many will likely close their doors. But some will still exist, which are those with good business plans and a reasonable profitable business. Yes the dot Com bubble burst but there is still an internet. Companies basing their business on venture capital based on their valuation will likely crash and burn. A company forcing “Ai” for marketing or such will fail. A company with a good base business which happens to use Ai will probably be fine. For example a company making sandwiches to determine what sandwich you actually want to order probably will fail. A company who happens to use Ai to estimate how much of each type of meat and vegatables to buy each week based on recent use/sales will probably still be fine. Once the bubble burst companies who are only valuable because of marketing as “Ai” will likely die. There are uses but it’s not everything but they are trying to shove it in everything.
This
How much Internet was there in 1997 just before the crash?
How much Internet is there now, 25+ years afterwards?
There was a decent amount of internet back then although not as much as there is now. The issue was people giving millions to any company that had a website. Websites were being made for everything and shoved in everyone’s faces. Like I remember there was a block of cartoon on wb11(animaniacs, freakazoid, etc) and they had ads on during the block for the website of the block, which didn’t have a url but a “AOL keyword” you could look up to go to. Nothing to sell, not really any tie-ins just like “do you want to see more from wacko, yacko and dot? Ask your parents to go to AOL keyword whatever the cartoon block was called.”
Yup. There was hype and adding “web” to everything didn’t automatically make it a Better Thing.
Similarly, the fact that some AI is hype or that some companies are using it stupidly doesn’t change the fact that it is absolutely going to change our society and we won’t want to go back to the time before we had the tech.
True just like we can’t go back to the time before the internet. Some companies have a good business which happen to use Ai, they will likely be fine. Some companies only exist because they claim Ai and survive on vc money, they will likely die.
There are uses of Ai. There are smart uses of Ai. There are incredibly stupid uses of Ai. There are some uses of Ai that are stupid now but will be industry standards in 30 years (think Netflix in late 90s) due to advancements in technology. If you know what companies will be which you could be a billionaire which is what people are betting on. But they are bets, no one really knows what will stick and what will burn…