AI Companies Lose $190 Billion After Dismal Financial Reports
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Reuters reports that AI-related companies lost $190 billion in stock market value on Tuesday following disappointing earnings reports.
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Thank god the bubbles finally starting to burst. I am tired of hearing about ‘AI’.
Right??? I swear every damn app is trying to shoehorn in some sort of AI nonsense just to hop on the bandwagon.
A lot of them aren't actually implementing anything, they're just changing words on their product description.
Like a spell checking addon suddenly rebranding itself as "AI".
From the very start of all this, it never made sense to call any of this "artificial intelligence", but that marketing stuck, and now we're trying to retroactively apply it to very basic things like text suggestion, further diluting the meaning of the term.
I agree with the first part of your comment, AI is the new buzzword.
But AI is the correct term for LLMs and other technologies using neural networks. That's what computer scientists have been calling them for decades. The sentient AI concept that we have comes from SciFi. I'd argue that the correct term is what experts have been calling it for years.
This misses the fact that even the experts have been using “AI” to refer to whatever technology used to seem impossible, until it becomes commonplace. Before LLMs there were heuristic algorithms, and then expert systems, and then intelligent agents and then deep learning. As the boundaries of what is deemed achievable expand, the definition of AI moves to just beyond the frontier.
You're not going to stop hearing about AI. Perhaps AI companies won't be so high-profile, but AI itself is being integrated into lots of things and it's not going to go away. The only thing that's happened here is that it's proving to be not quite so profitable as expected being an AI-specific company.
Edit: Perhaps not even that, the article appears to be neglecting to mention that this is part of a trend across the whole stock market rather than something AI-specific.
Nobody thinks generative ai will die, but when the bubble bursts maybe we wont get it shoehorned into places it really doesn't belong.
Personally I cheer for employees such as myself. The artificial pressure to compete with LLMs just got a lot softer.
AI isn't new. Algorithms "are" ai. All apps always used it. But it's changed from algorithms to AI.
AI is just a specific subset of algorithms, also not that new - first concept are from 1960 or so (from memory don't quote me) with perceptron. New is parallel computing power of modern chips - that allows for far better performance.
Absolutely is. It's fucking outstanding how big corps are eating it up.
Alrogithm corp = nothing new, boring low evaluation
Change it's name to:
AI corp= 1 BILLION DOLLARS!
I don't think that's necessarily true. We aren't hearing about "blockchain," "crypto," or "NFTs" every day anymore either even though they all still exist.
I don't see it where it's part of a broader stock market trend. Sp500 is up 1.25% today, 1.52% for the past 5 days, and 4.74% for the last month. Those are spectacular numbers (for people with stock market portfolios).
AI crashing in its own little corner is fine by me.
The current state of AI development is going to cost a ton of money until its maturity. Any company that is in “AI” right now is either intentionally spending billions of dollars to solve AGI, which will ultimately open up trillions in marketplace solutions, or is using the press to market fledgling AI “solutions” or “integrations” with fancier versions of narrow AI.
AGI is in its infancy and is progressing on an exponential curve. The first time anyone heard of ChatGPT was 14 months ago and , with proper prompting, it’s already easy to use to write college level essays and is passing higher education tests like SAT, GRE, medical exams, CPA certifications, and the bar. Think of what will happen when it hits its toddler stage, let alone adolescence or maturity.
Any way you look at it, the days of hearing about AI are just starting and it will dominate the press in the next decade.
Lol, no, that's another field entirely. They make the tools an AGI could use someday.
LLMs don't really fall under AGI, they're still static statistical models. Some RL algorithms might be on the track of AGI, but I'm not sure about that.
or we might be failing to understand severe limitations with this model which would ultimately reach its ceiling very short of anything that can reason
Of course its a hype right now. But at the same time AI improved my daily working live in the past year so much! I can outsource a lot of annoying tasks to AI and focus on the more creative tasks and everything strategic.
Can you expand on how AI improved your workflow? The only positive experience I've had with AI has been Githib's copilot in my VS Code instance. All the other ai interactions I have are pretty terrible.
Githubs Copilot
ChatGPT for larger coding tasks (its better at explaining what it does)
Deepl.com/write for proofreading and better texts.