"OpenAI is betting in the biggest way possible on a future ruled by AI. It's committing to spending well over $1 trillion to build out enormous data centers - despite business fundamentals lagging far behind, stoking fears over troubling days ahead. During a town hall livestreamed on Monday, CEO Sam Altman admitted that the company was looking to pump the brakes, revealing that it's looking to " dramatically slow down " hiring as the company continues to burn through billions of dollars each quarter."
"When asked if AI can be used to "solve economic gaps that have existed for decades," the executive argued that it's "going to be massively deflationary." "Given, certainly, progress with work you can do in front of a computer, but also what looks like it will soon happen with robotics and a bunch of other things, we're going to have massively deflationary pressure," he predicted."
"As a result of this deflationary pressure, Altman promised that things would get "radically cheaper" and the "empowerment of individual people" will go up as money becomes more valuable - which, it's worth noting, would be an inversion of virtually every economic system in history, which have overwhelmingly been inflationary. Altman reasoned that these economic changes would be the result of AI allowing individuals to be vastly more productive."
OpenAI is committing to spend well over $1 trillion to build enormous data centers despite lagging business fundamentals and mounting financial losses. CEO Sam Altman announced plans to dramatically slow hiring as the company continues to burn through billions of dollars each quarter. Altman predicts AI will be massively deflationary, driven by advances in computer work, robotics, and related technologies, creating deflationary pressure that will make goods and services radically cheaper and increase individual empowerment. Altman projects that increased productivity will enable an individual spending $1,000 on inference to complete software work that previously required a whole team.
Read at Futurism
Unable to calculate read time
Collection
[
|
...
]