I'm not concerned about a.i. being a bubble. I'm concerned about it actually being what they say it is.

[Scustin Bieburr]

Robo taxis powered by ai= no more ride sharing.
Robots powered by a.i.=no more meal delivery.
A.I. Chatbots= no more customer service reps, therapists, teachers.
A.I. powered robots= no more construction workers, welders, metalworkers, woodworkers, plumbers etc.
A.I. coding platforms= no more software engineers. "Learning to code" is no longer an option.
Touch screen ordering and self checkout= no more staff at grocery stores or fast food restaurants
Generative AI and chatbots= entire marketing departments eliminated or reduced to 1-2 people.

What does this mean for people who have their retirement tied up in the stock market? They'll have to cash out their 401ks because there wont be jobs for them to work and they still need money to survive.

What does this mean for people who thought they could start investing and then use that money to buy a home, car, etc.? They have to cash out and use that money to stay afloat.

What will that do to the stock market that these billionaires have the majority of their wealth invested in?

That's to say nothing of the millions of people who have more liabilities than they have assets. We are talking about mass foreclosures because people cant pay their mortgages, but then nobody can buy the houses or pay the rents that companies who buy those houses will charge to get a return on investment. That's to say nothing of all the banks who've lent out millions of dollars with no way of getting that money back because borrowers literally have no means of paying them back.

If they actually pull this off, anyone who isnt doing work that involves being hands on with people(doctors, nurses, physiotherapist, massage therapists, daycare workers, nannies, police, military) will be fukked.

 

[MicIsGod]

ai police gon hit different

 

[AnonymityX1000]

I used to on this train but I think when you look under the hood the degree of difficulty it takes to make the required chips and the investment necessary in data centers makes AI not yet feasible on a wide scale. You will never make the profit necessary to justify the amount required to invest for it to work properly.

 

[Scustin Bieburr]

I used to on this train but I think when you look under the hood the degree of difficulty it takes to make the required chips and the investment necessary in data centers makes AI not yet feasible on a wide scale. You will never make the profit necessary to justify the amount required to invest for it to work properly.

I agree but these guys are not rational actors. They are moving like coke addicts or gamblers who think they are "due" for a win.

If they jump the gun and start pushing all this stuff out there and they kill the one thing that seems to be keeping even more people from being unemployed (the gig economy) then the damage that will be caused in the stock market from people selling their shares will force these guys to try and seek investment from sovereign wealth funds(like Saudi arabia) but then the demand for oil will drop as sales for products made with petroleum drops, and people drive less because they have no jobs to drive to. These CEOs will have to engage in stock buybacks to make up for the drop in share price coming from random people selling their shares they bought on the apps or cashing out their funds that are linked to the market.

I think a.i. and robotics being too early, a bubble, and something that investors lose confidence in is actually a better case scenario than them actually managing to build the infrastructure that generates the level of electricity they need for this shyt to actually work the way they want it to.

Not only that, theres the fact that they currently have zero solution for the problem of a.i. 'hallucinations' . If youve replaced a person who actually knows how to think with a bot that can get things wrong but CONFIDENTLY spit out a fake answer, you run the risk of losing more money than if you actually had a person that knows what theyre doing. Some people I know use a.i. at work and they find that they have to double or triple check it's answers to make sure it isnt wrong. If enough businesses get fed up with that shyt they'll change course.

 

[null]

what do "they say it is" @Scustin Bieburr ?

 

[WIA20XX]

What will that do to the stock market that these billionaires have the majority of their wealth invested in?

The top 10% own 90% of the stock.

And to keep it specific - the mega billionaires are just trading chips with themselves

AI’s Web Of Circular Deals May Just Get Bigger: Amazon Said To Be Weighing $10B Investment In OpenAI

Critics argue that such “circular deals” artificially inflate revenues and valuations, heightening concerns about the risk of an AI bubble.

stocktwits.com

 

[Rekkapryde]

ai police gon hit different

ED209 in the black community.

 

[Roid Jones]

Yes a lot of people are going to find out the hard way, keep thinking it will never happen or it's years away, better start making plans NOW

 

[Scustin Bieburr]

what do "they say it is" @Scustin Bieburr ?

They are pushing A.I. as a thing that is superior to humans at basically everything.

If theyre right, they're essentially telling all businesses: you can fire your staff and subscribe to our A.I. software and license our robots.

I don't think they are since most of these guys are NOT scientists but that doesnt matter if they can successfully convince business owners to do that by tapping into their FOMO and hunger for cost savings.

 

[Adeptus Astartes]

They'll hit the power ceiling before any of that happens, but you are right to be concerned.

Trump will have to deregulate nuclear power, and his oil buddies won't like that

 

[jdubnyce]

Yes a lot of people are going to find out the hard way, keep thinking it will never happen or it's years away, better start making plans NOW

What plans would you recommend?
Asking for.....myself

 

[⠀X ⠀]

You just gotta be the one to program the AI and repair the robots

 

[Roid Jones]

What plans would you recommend?
Asking for.....myself

I can only speak for myself and my career but being fully AI-literate, building skills that AI amplifies not replaces, having a range of skills instead of a career built on one narrow function (my mentor put me on to this years ago, thank goodness he did)

 

[jdubnyce]

building skills that AI amplifies not replaces

Expound
Funny enough, this just popped up on my yt feed

About to watch

 

[AnonymityX1000]

I agree but these guys are not rational actors. They are moving like coke addicts or gamblers who think they are "due" for a win.

If they jump the gun and start pushing all this stuff out there and they kill the one thing that seems to be keeping even more people from being unemployed (the gig economy) then the damage that will be caused in the stock market from people selling their shares will force these guys to try and seek investment from sovereign wealth funds(like Saudi arabia) but then the demand for oil will drop as sales for products made with petroleum drops, and people drive less because they have no jobs to drive to. These CEOs will have to engage in stock buybacks to make up for the drop in share price coming from random people selling their shares they bought on the apps or cashing out their funds that are linked to the market.

I think a.i. and robotics being too early, a bubble, and something that investors lose confidence in is actually a better case scenario than them actually managing to build the infrastructure that generates the level of electricity they need for this shyt to actually work the way they want it to.

Not only that, theres the fact that they currently have zero solution for the problem of a.i. 'hallucinations' . If youve replaced a person who actually knows how to think with a bot that can get things wrong but CONFIDENTLY spit out a fake answer, you run the risk of losing more money than if you actually had a person that knows what theyre doing. Some people I know use a.i. at work and they find that they have to double or triple check it's answers to make sure it isnt wrong. If enough businesses get fed up with that shyt they'll change course.

The tech sector will do everything they can to keep things afloat but the amount of investment necessary they don't even have. They will have to get loans from banks and banks aren't going to go for it. They need investments with real Net Present Value. They don't share the romantic feelings the tech world has for the technology. They need real world results. Not just some cool idea that loses a lot of money.