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Jul 17, 2024 Goldman Sachs economists critique generative AI for its limited productivity, high power demands. Podcast discusses challenges of AI models in training, women's sports. Debunks hype around AI automation in fast-food ordering. Emphasizes value of human creativity over AI in creative process. Calls for accountability in tech industry against unethical practices.
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Goldman Sachs on Generative AI
- Goldman Sachs published a report criticizing generative AI's limited productivity benefits and returns.
- They also highlight the significant power demands of AI, impacting utility companies.
Acemoglu's AI Pessimism
- Economist Daron Acemoglu predicts limited GDP growth from generative AI.
- He argues AI struggles with multifaceted, real-world tasks, limiting its productivity impact.
AI Hype vs. Reality
- The AI industry's marketing overpromises generative AI's capabilities.
- There's little explanation of how increased power translates to practical improvements.