Technology sentiment cooled as Meta reduced its AI workforce and an MIT report found 95 percent of companies' generative AI programs failed to earn profit. Tech stocks declined sharply amid fears that the AI investment bubble has peaked and that Nvidia has been propping up valuations. Microsoft is testing AI features in Excel that can automatically fill cells and accept natural-language commands to classify information, generate summaries, and create tables. Excel remains focused on calculation and data analysis, and AI integration may deskill users by reducing the need to learn established spreadsheet formulas.
It's not AI winter just yet, though there is a distinct chill in the air. Meta is shaking up and downsizing its artificial intelligence division. A new report out of MIT finds that 95 percent of companies' generative AI programs have failed to earn any profit whatsoever. Tech stocks tanked Tuesday, regarding broader fears that this bubble may have swelled about as large as it can go.
According to The Verge, "Microsoft Excel is testing a new AI-powered function that can automatically fill cells in your spreadsheets." Using natural language, the idea goes, you tell it what you want and then the AI will "classify information, generate summaries, create tables, and more." If you squint a little, or just look at this through the eyes of a person or company with a vested financial interest in shoving AI products into every cranny of your life, you can sort of see the vision.
Excel requires some skill to use (to the point where high-level Excel is a competitive sport) and AI is mostly an exercise in deskilling its users and humanity at large. If everything works right, you'll be able to tell the program, in words, broadly what you want it to do, rather than have to learn the formulas that already exist and have for decades, which tell the program exactly what you want it to do.
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