Grumbles about generative AI’s shortcomings are coalescing into a “trough of disillusionment” after a year and a half of hype about ChatGPT and other bots.
Why it matters: AI is still changing the world — but improving and integrating the technology is raising harder and more complex questions than first envisioned, and no chatbot has the magic answers.
Driving the news: The hurdles are everything from embarrassing errors, such as extra fingers or Black founding fathers in generated images, to significant concerns about intellectual property infringement, cost, environmental impact and other issues.
Not every new technology or shift in the economy is a “bubble” that’s inevitably going to “pop” someday.
But this one definitely is.
It’s like watching the Blockchain saga in fast-forward.
Such confidence. Why do you think so?
Many of the shifts that have happened in the economy are a result of capabilities that existing AI models actually demonstrably have right now, rather than anticipation of future developments. Even if no further developments happen those existing capabilities aren’t going to just “go away” again somehow.
Also worth noting, blockchains are still around and are doing just fine.
They are, though. The total market cap across cryptocurrencies right now is about $2.75 trillion.
You misspelled “Unlicensed Securities”, and taking crypto scammers at their word when they tell you how much their bits are worth is an easy way to lose actual money. XD
I’m just pointing out that they’re still there. If it’s a scam then at this point it’s one of history’s biggest and longest-running.
And whether any particular cryptocurrency qualifies as a security in any particular jurisdiction is a complicated question, some do and some don’t. This is about cryptocurrency as a whole so calling them an unlicensed security would not be accurate.
Calling them a “currency” wouldn’t be accurate either.
And the fact that they still exist as a fraction of a shadow of their former hype doesn’t perish the fact that they have accomplished none of their stated goals.
Not as an untracable currency, not as a store of value, not as a medium of exchange, and most especially not as a thing to make government-issued money obsolete.
Cryptocurrency as a whole isn’t worth the disk space it occupies.
It isn’t a “shadow”, its current market cap is near its historical high point right now.
If you have no use for it then by all means ignore it. But calling it a bubble that has popped is simply factually inaccurate. Other people evidently find value in it.