AI is putting tech companies billions of dollars in the hole, and Wall Street is tired of the lack of results. Will AI cool off like NFTs and crypto? Will tech companies have to pull back for now and focus on making AI actually GOOD before releasing it to the public? Has Google completely DESTROYED the internet as we’ve known in chasing AI?
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AI companies like Google and OpenAI are facing financial losses and skepticism about profitability, potentially slowing down AI development and adoption.
00:00 AI companies like Google and OpenAI are losing billions, impacting the accuracy of Google’s search engine and potentially slowing down AI adoption.
02:07 AI development may slow down due to lack of financial incentive, similar to the rise and fall of NFTs.
03:32 Wall Street is concerned about AI not making money, leading to skepticism and potential financial loss, causing investors to ring the alarm bells over the billions being invested in AI.
04:54 Google and OpenAI are losing money because AI technology is not yet profitable and there needs to be checks and balances in its use.
06:21 Google’s Q2 earnings were disappointing due to high AI training costs, leading to job losses and website collapses, with AI Snippets being unreliable and unprofitable.
07:51 Google’s ad revenue decline is causing financial losses for tech companies like OpenAI, impacting their ability to monetize AI products.
10:07 AI and technology are over-relied on, leading to everything being broken and not ready for prime time, which will eventually result in higher costs for users.
11:12 Companies are overly dependent on AI, leading to concerns of a growing AI bubble and skepticism about profitability, with job loss and decreased customer base impacting the tech sector’s profitability and smaller companies struggling to compete with big tech.
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