It almost seems as though the record-setting bonuses they were dolling out to hire the top minds in AI might have been a little shortsighted.
A couple of years ago, I asked a financial investment person about AI as a trick question. She did well by recommending investing in companies that invest in AI (like MS) but who had other profitable businesses (like Azure). I was waiting for her to put her foot in her mouth and buy into the hype.She skillfully navigated the question in a way that won my respect.
I personally believe that a lot of investment money is going to evaporate before the market resets. What we're calling AI will continue to have certain uses, but investors will realize that the moonshot being promised is undeliverable and a lot of jobs will disappear. This will hurt the wider industry, and the economy by extension.