I would like to make a correction. "1 in X companies" should be replaced with "1 in X marketing departments". The fact that the companies talk about AI does not mean they will do anything about it. It's trendy
They used LLMs to look at the risk disclosures in recent 10-K filings, and found that 3/4 of S&P 500 companies mentioned additional AI risks compared tot heir own previous 10-K - AI-driven cyber attacks, deepfakes, energy demands, regulation (AI EU act) etc.
The only risk this report clearly shows is the existential risk AI poses to consulting firms that specialize in writing vacuous reports. Anyone who makes their living writing pompous puffballs of poop like this should be really, really worried.
If AI can trade stocks and derivatives better than any humans, maybe we'll see wealth accumulation in a few large AI firms. And the stock market becomes effectively useless to the rest of us.
I don't understand. If AI replaces jobs by being a "cheaper" alternative, wouldn't it deliver the same productivity metrics while saving costs? This is insanely simplified, I know, but the premise holds, I feel.
is ai anything more than a shakedown at this point?
aside from a few very specific corporate backroom use cases, the pitch for the product currently sold as “ai” is loaded with vague, unclear benefits, marginal utility, and limited real world adoption.
then there’s another product, “ai risks”, many of which are easily identifiable to an average person (layoffs, deepfakes, calculated and miscalculated state violence without accountability), and to the c-suite cause fear and panic, resulting in massive overspending to mitigate these risks, most likely by investing in a “good” ai tool to counter the “bad” ai tool.
how long can the grift continue without any actual positive product to purchase?
I personally wouldn’t put much weight behind what is in 10-Ks. These can often be written by the same law firms for multiple businesses using largely the same language. Also, as others have pointed out, the risk section 1a on 10-Ks are more of a CYA than anything else. For what it is worth i think Meta even lists Zucks hobbies(aviation, surfing etc.) as a risk.
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[ 3.7 ms ] story [ 28.0 ms ] threadIf there is a risk to jobs, it wouldn't show up here since actually less jobs is "good" for business...
aside from a few very specific corporate backroom use cases, the pitch for the product currently sold as “ai” is loaded with vague, unclear benefits, marginal utility, and limited real world adoption.
then there’s another product, “ai risks”, many of which are easily identifiable to an average person (layoffs, deepfakes, calculated and miscalculated state violence without accountability), and to the c-suite cause fear and panic, resulting in massive overspending to mitigate these risks, most likely by investing in a “good” ai tool to counter the “bad” ai tool.
how long can the grift continue without any actual positive product to purchase?