The AI Crowd is Mad
The AI Crowd is Mad
With this write-up, I want to outline my current thinking around large language models like OpenAI's chatGPT.
As many people have made claims about the potential of this technology, in the following, I'm going to make my claims too, so that I might be proven right or wrong later.
In general, I think the current LLM discourse needs more nuance. On podcasts and in blog posts I always seem to identify one line of reasoning and it is too optimistic for my taste. So here are some points that I find under-developed in the discussion.
i.
The hallmark of a bubble are its investors' inflated expectations given what said technology can achieve. This becomes clear when enumerating Carlota Perez's list of technological advancements and their ensuing market manias. It consists of (1) the industrial revolution, (2) the steam engine, (3) the age of electricity, (4) the oil boom and (5) the dawn of the information revolution.