Disillusioned Businesses Discovering That AI Kind of Sucks

Key Points:

  • Generative AI hype likely to burst
  • Drawbacks include misinformation, energy consumption, and unreliability
  • Businesses experiencing problems with AI implementation

Summary:

The hype surrounding generative AI appears to be ill-founded, with numerous drawbacks plaguing the technology leading to disappointments and setbacks for businesses that invested in it. Issues such as misinformation, plagiarizing, high energy consumption, and unreliability are casting doubts on the practicality and dependability of generative AI.

 

According to cognitive scientist Gary Marcus, businesses are struggling to make generative AI work seamlessly for their customers, finding it challenging to roll out the technology reliably. Instances of customer dissatisfaction, including chatbots swearing at customers, generating false discounts, and providing misleading information, have emerged, illustrating the shortcomings and risks associated with relying on generative AI for customer service and sales purposes.

 

Experts have raised concerns that the AI industry might be experiencing a bubble akin to past bubbles in crypto and Dot Com startups, with projections of AI becoming a trillion-dollar industry fueling skepticism about the sustainability and real-world applicability of the technology. The uncertainty surrounding the advancement of AI and the potential for a period of stagnation are further complicating the outlook for investors who have poured significant funds into the industry.

 

Rumman Chowdhury, CEO of AI consulting firm Humane Intelligence, emphasizes the critical need for guardrails to be implemented with generative AI models to prevent them from generating inaccurate or misleading outputs. The challenges facing generative AI highlight the importance of tempering expectations and addressing the limitations of the technology to ensure ethical and practical use in business operations.

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