The CEO Retort Veteran AI Experts: The AI bubble is much worse than we ever expected
The tables have turned! Tim El-Sheikh is being interviewed by Ben Byford on his show, The Machine Ethics Podcast, discussing why the AI bubble is far worse than we thought and how it has become a financial nightmare.
Ben is a good friend of our show here at The CEO Retort and a previous guest who discussed digital ethics and ethical AI, without the hyperbolic doom-and-gloom fantasy.
As part of our collaboration, I’m the guest this time, and Ben and I discuss podcasting, the history of OpenAI, London startups, AI use cases, and whether GenAI is even safe.
But the key topic of our discussion is the AI bubble, snake oil salesmen, and whether we need all these data centres.
Above all, we are exploring the financial implications post the AI bubble explosion.
Timestamps:
(00:00:00) – Preview
(00:01:45) – CEOR Intro
(00:02:25) – Tim's journey with AI as a deeptech entrepreneur since 2002 and why he decided to launch The CEOR podcast.
(00:08:53) – Why Tim believes Google is still the dominant force in AI today, not OpenAI, based on his observations at Google Campus London.
(00:10:32) – How did the current wave of AI cause the rise of the AI bubble?
(00:22:03) – What impact does the AI bubble have on regular people's lives?
(00:27:19) – What makes this AI bubble different?
(00:33:30) – The failure of the AI sector in justifying their claims that AI "can change everything" and the dangerous consequences of this delusion.
(00:39:39) – Replacing humans is a fantasy. It's about profit and control, not innovation. There is nothing new here!
(00:46:10) – The "anti-human" rhetoric from the AI sector, coupled with aggressive and unlawful data grab, thought manipulation and why it must stop.
(00:52:30) – What could the world look like after the AI bubble bursts?
(00:56:37) – Why "AI Data Centres" are not "long-term" investments with big ROIs like railways.
01:01:20) – Why nonprofits and socially responsible AI research and services will play a critical role in the post-AI bubble cleanup.
(01:05:12) – Tim's advice on how to protect yourself from chatbots' praise!
Episode Notes & Citations:
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