Goldman Sachs Exchanges A skeptical look at AI investment
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Jul 16, 2024 
MIT economist Daron Acemoglu and AI investment expert Jim Covello discuss the skepticism around AI investment. They explore the challenges of scaling AI models, the potential of AI superintelligence, and the impact on job creation. The podcast also covers the need for realistic expectations in AI investments and the importance of tangible applications for investors.
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Limited Short-Term AI Impact
- Daron Acemoglu's analysis suggests AI's short-term economic impact will be smaller than predicted.
- He estimates only 4.6% of AI-impactable tasks will be automated cost-effectively in 10 years.
Scaling Challenges in AI
- Simply increasing data and computing power won't guarantee rapid AI advancements.
- High-quality data and architectural limitations pose challenges.
AI's Cost Paradox
- Unlike past tech, AI is currently expensive and aims to replace cheap labor.
- Jim Covello questions if AI can solve a trillion-dollar problem to justify costs.