The new “AI” hype is everywhere and people are predicting everything from end of humanity to economic collapse. Let us pause and think?
Hype cycles get rapidly amplified with social media. Humans are designed to over-react to threats (better safe than sorry) and social (all?) media amplifies this 100X. We saw that in COVID. We really did not understand the nature of the of the spread and neither did we think through all the consequences of suspending civil liberties. Even talking about alternative approaches like “herd immunity” was politically radioactive. The “curve” was probably a lie
We also over-reacted on blockchain. Everyone from IBM to our politicians were claiming that all kinds of problems will be fixed with blockchain. Millions of dollars were invested in these hype technologies. Let’s not talk even about crypto.
Are we all over-reacting on these new transformer models? 90% of people in India will probably see no effect. For us in the IT bubble, we will continue to see more hype cycles based on low-interest rates, creating mostly useless technology to create more useless technology. Will be fun to see how this unfolds.