The AI Daily Brief (Formerly The AI Breakdown): Artificial Intelligence News and Analysis Goldman Sachs Is Wrong About AI (Why AI Isn't A Bubble)
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Jul 10, 2024 The discussion dives into the misrepresentation of generative AI potential by a recent Goldman Sachs report. It highlights how enterprises are evolving their focus from merely acquiring new AI models to optimizing existing ones as costs drop. Skepticism surrounding AI's capabilities is dissected, revealing insights into declining costs and the need to grasp scaling laws for better understanding. The intricate relationship between data, power, and performance is also explored, challenging assumptions about how they contribute to advancements in artificial intelligence.
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Conflated ROI
- The Goldman Sachs report's analysis conflates ROI for infrastructure builders (Microsoft, Google) with ROI for businesses using AI.
- These are related but distinct questions with different timelines and considerations.
Time Horizon Discrepancy
- Infrastructure companies invest in AI with long-term (decades) vision, unlike Wall Street's short-term focus.
- This time horizon difference explains some perceived ROI discrepancies.
Apple's AI Silence
- Apple's lack of public AI strategy in 2023 caused board chaos and stock impact.
- This demonstrates the strategic importance of engaging in AI for tech companies.