Yes or no and why.
My take: There will be clear beneficiaries of this technology and certain sectors of the economy stand to benefit more than others. On the whole, I don't believe it's an advancement in the same vein as the internet. I view it as more of a "tool" than a "product" (the difference can be subtle) and I think the hype is pretty overblown.
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A lot of grifters treating it as a get rich quick scheme trying hard to hype it up and sell “courses” on it, reminds me of crypto then NFTs. But sure it will have its uses.
Like cloud computing value will accrue to the largest scaled players and upcoming AI startups best bet is to get acquired by one of these large players - cannot compete on compute without cash and the big tech group has more money than god right now. Being cloud based isn’t special anymore but it was in the early 2000s like it is now to be a “AI company”
I think there is meaningful uplift for different industries but I don’t think the average person will care to use ai that much. Ai might be best used to make manufacturing and heavy machinery more efficient through robots instead of people - I think that’s the coolest and most obvious giant long term tailwind…
AI has been around for a good while. I know Bank of America used machine-learning to publish equity research for their FX division. I think like you said it is a great tool that is for sure going to get utilized but I think as it grows exponentially, it will cut out some need for entry level and data driven roles.
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