the writer Nina Illingworth, whose work has been a constant source of inspiration, posted this excellent analysis of the reality of the AI bubble on Mastodon (featuring a shout-out to the recent articles on the subject from Amy Castor and @dgerard@awful.systems):
Naw, I figured it out; they absolutely don’t care if AI doesn’t work.
They really don’t. They’re pot-committed; these dudes aren’t tech pioneers, they’re money muppets playing the bubble game. They are invested in increasing the valuation of their investments and cashing out, it’s literally a massive scam. Reading a bunch of stuff by Amy Castor and David Gerard finally got me there in terms of understanding it’s not real and they don’t care. From there it was pretty easy to apply a historical analysis of the last 10 bubbles, who profited, at which point in the cycle, and where the real money was made.
The plan is more or less to foist AI on establishment actors who don’t know their ass from their elbow, causing investment valuations to soar, and then cash the fuck out before anyone really realizes it’s total gibberish and unlikely to get better at the rate and speed they were promised.
Particularly in the media, it’s all about adoption and cashing out, not actually replacing media. Nobody making decisions and investments here, particularly wants an informed populace, after all.
the linked mastodon thread also has a very interesting post from an AI skeptic who used to work at Microsoft and seems to have gotten laid off for their skepticism
I don’t claim to know any better than you, but my intuition says it’s the funding, combined with the fact that even understanding what the claims are takes a fair bit of technical sophistication, let alone understanding why they’re bullshit. The ever soaring levels of inequality — constant record highs in a couple generations at least — make it hard to realize just how much power the technocrats hold over the public perception and it can take a full lecture to explain even an educated and intelligent person how exactly the sentences the computer man utters are a crock of shit.
And more cynically, for some people it’s the old saw about not understanding things when your paycheck depends on it.
It’s a self-repairing problem, since you can’t fool most people forever, but the sooner the less people still buy into it, the better.