Comment Re:Such beauty (Score 1) 41
There's no doubt that AI is developing into a useful tool -- for people who understand its limitations and how long it is going to take to work the bugs out. But people have a long track record of getting burned by not understanding the gap between promise and delivery and, in retrospect, missing the point.
I think we should take a lesson from the history of the dot com boom and following bust. A lot of people got burned by their foolish enthusiasm, but in the end the promise was delivered, and then some. People just got the timescale for delivering profits wrong, and in any case their plans for getting there were remarkably unimaginative, e.g., take a bricks and mortar business like pet supplies and do exactly that on the Internet. They by in large completely missed all the *new* ways of making money ubiquitous global network access created.
I think in the case of AI, everybody knows a crash is coming. In fact they're planning on it. Nobody expects there to be hundreds or even dozens of major competitors in twenty years. They expect there to be one winner, an Amazon-level giant, with maybe a handful of also-rans subsisting off the big winner's scraps; tolerated because they at least in theory provide a legal shield to anti-trust actions.
And in this winner-take-all scenario, they're hoping to be Jeff Bezos -- only far, far more so. Bezos owns about 40% of online retail transactions. If AI delivers on its commercial promise, being the Jeff Bezos of *that* will be like owning 40% of the labor market. Assuming, as seems likely, that the winning enterprise is largely unencumbered by regulation and anti-trust restrictions, the person behind it will become the richest, and therefore the most powerful person in history. That's what these tech bros are playing for -- the rest of us are just along for the ride.