Yes, of course you should worry as an investor. The only thing that you can hope for is that OpenAI is too big too fail and that it will get help from the government to bail them and Wall Street out. The problem is that OpenAI has made commitments of $1000 billion to companies like Oracle, Nvidia and AMD, but it's all based on debt, so how much more money can they loan, and how on earth is it ever going to pay this money back?
AI is a circular economy of loans, debts and hype. OpenAI and all their partners dependent entirely upon one another. A bro-tastic sales pitch attracting unprecedented amounts of capital that shows no sign of earning a return. Economy/Business 101 - this bubble will burst and it will create a great deal of insecurity in the world markets. The group of companies in this circle are gluttons that will continue to gorge themselves until the party is over. They do not deserve dessert from the government after their table is cleared.
Peter Thiel dumps entire Nvidia stake, slashes Tesla holdings amid bubble https://ca.investing.com/news/stock...shes-tesla-holdings-amid-bubble-fears-4320129
I'd prefer they stop bailing out investors with my tax dollars. People forget the don't have any money they didn't collect from us. I'd like to see AI go bust. We're not going to like what's coming. We're quickly nearing the point to where we will not have any idea what media is fake or not.
Google boss warns 'no company is going to be immune' if AI bubble bursts https://www.bbc.co.uk/news/articles/cwy7vrd8k4eo
I honestly wonder, what will happen to AI the next year. I definitely would not invest in it. AI is extremely inteligent, yet extremely dumb. AI creates facts to fill in gaps, it does not consider it as a lie, just as an alternative.
That is what scares me the most, AI is more human like than we give it a credit for. It literally copies our behavior, including our lack of empathy. In "I Robot" movie, AI wanted to preserve human life by killing the rest, for our own good. Code: https://youtu.be/LH-G8c3TUac https://youtu.be/f9HwA5IR-sg
I believe the government has no choice anymore, because this AI and crypto bubble is what's keeping Wall Street alive. If there will be another major correction with a long duration, than the rich and middle class will have less money to spend, which will destroy the economy. But what they need to do, is find a way to make companies cut less jobs because of AI. Because Wall Street isn't the real economy, a lot of people struggle with inflation, high mortgage/rent payments, so at the end of the day you need real jobs, preferably with a good salary.
Entry level jobs are dropping like a stone right now. That includes jobs for graduates with diplomas/degrees. This circular AI economic model can not sustain itself. Companies are firing experienced employees thinking that AI will replace them (sooner rather than later). Many believe that only contract workers will be the future employment model, where no-one works for one company, but for several companies at a time. According to Elon Musk work will eventually be optional... https://www.ibtimes.co.uk/elon-musk...years-it-will-just-like-playing-games-1756871 I would suggest that people read Arthur C. Clarke's novel 'Childhood's End'. It is about humans opting for Overloards that promise decades of apparent utopia at the cost of human identity and culture. The Overlords' purpose is to serve the Overmind (an artificial intelligence). It has some similarities with 'The Borg Continuum'. Why am I suggesting fiction? Musk's ideas on a human utopia totally rely on artificial intelligence that come from fictional novels that he often refers to.
Let's remember that IT, along with many industries, are cyclical industries. There is a boom period, then there is a bust period. (Gen)AI is just convenient excuse for this bust and sells story that companies will grow even during layoffs which is calming for investors.
Perhaps the expectation that flawed humans trying to create an artificial intelligence that is resistant to our own inherent flaws is unrealistic.
