Are people starting to understand that AI adoption in most organisations could just be hot air (literally) and hype?
Evidence is suggesting we might be teetering towards that conclusion.
If the MIT study referenced by the Register is true at scale, then we’ve already wasted hundreds of billions and intend to waste trillions more on a technology that currently has less than a 5% chance of delivering any form of ROI.
There’s definitely concern in the financial markets about the AI bubble at risk of imploding. The big names in the sector had a bad day, Nvidia dropped 3.5%. Palantir 9.4%. Arm 5%. AMD 5.4%. and Oracle by 5.9%.
That’s a $250bn loss in shareholder value in one day for just those five.
Trillions of dollars are being invested in building huge numbers of power and water sucking data centres for AI platforms that’ll burn Terawatts of energy for no actual benefit to anyone.
Burning the planet at the alter of tech bros like Sam Altman and Jensen Huang.
Could we get better results by paying people more instead of just rewarding the C-suite? Evidence does show that rewarding people more ends up with better growth and that’s definitely better for society and our economies. It’d mean greater tax revenues, happier people, more economic growth.
Or we can continue throwing every pound we’ve got at toxic billionaires so they can continue peddling snake-oil tech to gullible CEOs.
This article originally appeared as a LinkedIn post.
Mark Butcher
Mark Butcher is a director of Posetiv Cloud, a specialist in GreenOps, FinOps and DevOps
