Just did a touch of research around AI in the wake of today's selloff. Thought it was worth sharing.
Venturebeat AI Series (Note: Sponsored by Appen, bias high, but gives some insight into the company's perspective):
This was the flipside, maybe a bit too negative, but I thought it made some good points too: Companies Will Spend $50 Billion On Artificial Intelligence This Year With Little To Show For It
This is probably the more consensus perspective on AI: Tech industry urges $250 million AI budget cash splash
Some of my main takeaways:
- I didn't realise that AI project failure was so big (~80%). This would explain alot of the budget pullback during covid. Only mission critical/high chance of success projects.
- Hadn't realised the privacy/ethical implications of the training data. The example of Amazon's misogynistic hiring AI failure was quite interesting. Need to remember, an AI is a mirror of us. Keeping bias out will be an ongoing problem.
- This makes me more confident about the long term prospects of AI. But it does make me wonder about the current state.
[Disc - Added to holding today. 20% drop off the back of information that was the same as their EOY results, seems like a bit of an overreaction. Felt the bet was worth taking, but only a small amount. Still too much uncertainty for high conviction.]
