The third article in a week that I’ve read suggesting that GenAI is not actually doing anything useful:
Even Goldman Sachs, who can generally make money out of any ludicrous hype cycle, think there’s nothing of value there.
Summary from the others:
Only 5% of businesses are doing any kind of AI roll out and, of those, a lot are scaling back because the returns are nonexistent or negative.
Experienced developers using Copilot are 20% less productive.
Silicon Valley companies spent $50B on NVIDIA GPUs and that led to a $3B increase in revenue (not profit).
Improvements in newer generation AI models is incremental, but the costs of training are increasing disproportionately.
@david_chisnall My boss just ask me last week "Are we doing anything with generative AI?" And I know he heard it in a meeting. The nice thing about Goldman is that they have an inexplicably good reputation at the altitude where the most hot air currents can be found.
