Kean D. Birch: "Someone’s going to lose a lot of money."

"As the management guru Peter Drucker pointed out a long time ago, at a certain point in the innovation cycle, businesses stop investing and start reaping the returns on their investments. 

"Right now, though, Big Tech can see the endpoint coming to capture returns on their previous investments, but they can also see that while we wait for the next techno-economic paradigm, they can continue to reap further returns from the current dying paradigm by propping up generative AI as a way to also prop up their expensive asset base. 

"Unfortunately, the enormous sums invested in computing capacity for generative AI have to make an enormous return, or they’ll be wasted. 

"Jim Covello, Head of Global Equity Research at Goldman Sachs, argues that although AI looks like it’ll attract US$1 trillion in investment in the coming years, there really isn’t a US$1 trillion problem for it to solve. Someone’s going to lose a lot of money."
 


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