Hey Scott,
I read an article by a leading researcher named Ed Zitron who debunks the hype around AI. He points out that, while companies like OpenAI claim their technology is revolutionary, they’re burning billions in losses. Even the mammoth Microsoft has poured in $13 billion and is still not seeing real profitability. Despite all the buzz, AI still struggles with accuracy, and most businesses aren’t making money from it. Zitron argues that AI’s biggest success so far is convincing investors it’s the future — while users are realising it’s often unreliable and expensive. So, is AI really the game-changing gold rush we’ve been told it is, or is it just another overhyped tech bubble waiting to burst? Should we be more skeptical about its long-term potential?
Daniel
Amen, brother!
AI is so overhyped it’s making the crypto bros blush.
Still, that’s just how the tech world works — every few years, it falls madly in love with the Next Big Thing, only to ghost it when a shinier obsession comes along.
Remember when 5G was going to change everything? Medicine, smart cities, your morning coffee — nothing was safe from the revolution. At Apple’s 2020 iPhone 12 launch, they dropped the word ‘5G’ sixty times in one presentation!
And now?
No one gives a G.
The people making serious money in AI right now are companies like Nvidia (selling computer chips), cloud computing giants, and consultants convincing companies they ‘need’ AI even if it doesn’t do much for them.
Now, don’t get me wrong — AI is a fundamental technological shift.
Yet here’s the reality:
ChatGPT has been around for less than two years. That’s toddler-aged technology. Impressive at times, sure, but it’s still eating glue and struggling with basic tasks.
The real breakthroughs?
They’re probably 20 years away — when AI grows up, stops making stuff up and actually gets context, and businesses figure out how to turn it into real profit.
Yet that won’t stop Wall Street from pumping the bubble today.
Exhibit A: At the recent iPhone 16 launch, Apple couldn’t stop saying ‘Apple Intelligence’ — about as often as they dropped ‘5G’ four years ago. Just don’t ask Siri to set two timers at once. She’ll short-circuit like a 2001 Dell running 37 Chrome tabs.
Scott