https://www.marketscreener.com/quot...ew-clothes-McGeever-47404652/#google_vignette
From above article;
....
PLENTY COST, LITTLE BENEFIT
Acemoglu's thoughts and findings were included in a June 25 note from Goldman Sachs "Gen AI: Too much spend, too little benefit?" that dissected the pros and cons of AI.
Jim Covello, head of global equity research at the investment bank, is far more skeptical than his colleagues on the economics team.
Covello reckons investment in expanding AI infrastructure - on data centers, utilities, and applications, among other things - will exceed $1 trillion in coming years. The crucial question, in Covello's view, is: what $1 trillion problem will AI solve?
"Replacing low-wage jobs with tremendously costly technology is basically the polar opposite of the prior technology transitions I've witnessed in my thirty years of closely following the tech industry," he says.
Comparisons with the early days of the internet are misplaced. Even in its infancy the internet was a low-cost technology solution that enabled e-commerce to replace costly existing structures - quite literally - such as brick-and-mortar buildings.
...
From above article;
....
PLENTY COST, LITTLE BENEFIT
Acemoglu's thoughts and findings were included in a June 25 note from Goldman Sachs "Gen AI: Too much spend, too little benefit?" that dissected the pros and cons of AI.
Jim Covello, head of global equity research at the investment bank, is far more skeptical than his colleagues on the economics team.
Covello reckons investment in expanding AI infrastructure - on data centers, utilities, and applications, among other things - will exceed $1 trillion in coming years. The crucial question, in Covello's view, is: what $1 trillion problem will AI solve?
"Replacing low-wage jobs with tremendously costly technology is basically the polar opposite of the prior technology transitions I've witnessed in my thirty years of closely following the tech industry," he says.
Comparisons with the early days of the internet are misplaced. Even in its infancy the internet was a low-cost technology solution that enabled e-commerce to replace costly existing structures - quite literally - such as brick-and-mortar buildings.
...
