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AI, with its generative capabilities, promises to automate tasks, enhance productivity, and spur economic growth. However, the road to achieving these lofty goals is fraught with obstacles.
According to Goldman Sachs, the tech industry’s projected $1 trillion investment in AI over the next few years has yet to yield large returns beyond modest efficiency gains. Even NVIDIA, a major player in the AI hardware sector, has seen its stock price corrected sharply.
The skepticism surrounding AI’s potential is echoed by experts. Take Daron Acemoglu from MIT, for instance. He’s quite skeptical about AI’s grand promises.
According to him, only a small fraction of work tasks will be automated by AI in the next decade, impacting less than 5% of all tasks.
He argues that AI won’t advance fast enough to make a large economic impact, predicting only a slight bump in productivity and GDP growth. It’s a far cry from the revolution many envision. 0 reply
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