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Another survey, conducted last year by the Benioff Homelessness and Housing Initiative at the University of California, San Francisco, found that 75 percent of homeless adults in California were local residents who had become homeless in the county where they had last been housed.”

nytimes.com/2024/07/25/us/news

#Homelessness #Homeless #ComplexProblems (2/2)

The New York Times · Newsom Orders California Officials to Remove Homeless EncampmentsBy Shawn Hubler

Goldman Sachs: AI Is Overhyped, Wildly Expensive, and Unreliable

Link
📌Summary:
Goldman Sachs, one of the largest investment banks in the world, published a research paper expressing doubts about the economic viability of generative AI. The paper notes that there is "little to show for" the huge spending on generative AI infrastructure and questions whether this spending will ever pay off in terms of AI benefits and returns. The paper suggests that AI optimism is driving large growth in stocks like Nvidia and other S&P 500 companies, but argues that the stock price gains are based on the assumption that generative AI will lead to higher productivity and efficiency. The paper also suggests that companies are acting like generative AI is going to change the world, but that the technology is currently deeply unreliable and may not change much of anything at all.

🎯Key Points:
- Goldman Sachs questions the economic viability of generative AI.
- The bank notes that there is "little to show for" the huge spending on generative AI infrastructure and wonders whether it will ever pay off.
- The paper is based on a series of interviews with Goldman Sachs economists and researchers, MIT professor Daron Acemoglu, and infrastructure experts.
- Goldman Sachs argues that AI optimism is driving large growth in stocks like Nvidia and other S&P 500 companies.
- The bank suggests that the stock price gains are based on the assumption that generative AI will lead to higher productivity and efficiency.
- The paper argues that generative AI is currently deeply unreliable and may not change much of anything at all.
- The bank expresses skepticism about both the cost of generative AI and its ultimate transformative potential.

🔖Keywords:
#GenerativeAI #EconomicViability #GoldmanSachs #Doubts #Unreliable #Hype #Expensive #Investment #S&P500 #Nvidia #Productivity #Automation #Efficiency #Bubbles #LongTermReturnForecastingFramework #Skepticism #Cost #TransformativePotential #Limitations #Architecture #ComplexProblems #Data #Training #Reddit #RedditData #Doubling #Limitations #Expense #VirtualReality #Metaverse #Blockchain #VentureCapital #AIIndustry #Revenue #ProcessingPower #InfrastructureCosts #DataBreaches #AT&T #Hackers #CallandTextMetadata #Customers #AT&TCustomers #Massive #Significant #DataBreaches
404 Media · Goldman Sachs: AI Is Overhyped, Wildly Expensive, and UnreliableOne of the world's largest investment banks wonders if generative AI will be worth the huge investment and hype: "will this large spend ever pay off?"

» He tackled #complexProblems such as:
the evolution of #phenotypic plasticity,
the role of evolution in modulating interspecific interactions & extinction,
and the #evolutionary dimensions of #geneticDrive
..
His well-crafted papers are models of rigour and have true staying power
..
general theory of the interplay between demographic & genetic constraints in #evolution
..
formalize the #geographic #MosaicTheory of #coevolution «

#RIP

Richard S. Gomulkiewicz
1962–2023

nature.com/articles/s41559-023

NatureRichard S. Gomulkiewicz (1962–2023) - Nature Ecology & EvolutionIncisive theoretical population geneticist.