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Research shows more than 80% of AI projects fail, wasting billions of dollars in capital and resources: Report
(www.tomshardware.com)
this post was submitted on 29 Aug 2024
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Wasting?
A bunch of rich guy’s money going to other people, enriching some of the recipients, in hopes of making the rich guy even richer? And the point of AI is to eliminate jobs that cost rich people money?
I’m all for more foolish AI failed investments.
It's a circle jerk, don't get fooled into thinking this is some new version of trickle down economics
It’s not trickle down at all. Definitely not what I was trying to say. Just rich people trading money among themselves in hopes of getting richer.
Imo it's wasted in the sense that the money could have gone towards much better uses.
Which is not unique to AI, it's just about the level of money involved.
What's better than paying someone's salary?
New renewable energy installations.
Research into vaccines.
Malaria distribution.
Higher education endowments.
Heck, just paying the salaries of people working in those fields. Sure, spending money stimulates the economy so I wouldn't go so far as to say it's totally wasted, it's definitely being put to a much better use than just sitting in someone's bank account. But it could be put to a lot better uses. The software engineers could be developing a new program for balancing energy loads, or managing the maintenance of wind turbine fields. The hardware engineers could be optimizing a better autoclave or building a machine that automatically dispenses medicine when fed a script. The PMs could be managing a team distributing aid in Ukraine or designing a new blood drive initiative. Jobs that have positive societal impact, instead of - at best - neutral societal impact.
It makes rich guys even richer. At the expense of other rich guys and just fools attracted.