Too Dumb Concerns over an AI bubble are continuing to grow. Major selloffs at the beginning of this week had experts worried that the dam was breaking, although markets have since stabilized significantly. Nonetheless, the conversation surrounding tech giants losing hundreds of billions of dollars in market capitalization continues, with critics arguing that AI hype is unsustainable in the long run. In an interview with NPR, MIT economist and leading AI skeptic Daron Acemoglu made a case that the tech is simply far too dumb to have a major impact. When asked if generative AI would usher in revolutionary economic changes, Acemoglu had a straightforward answer. “No. No. Definitely not,” Acemoglu told NPR. “I mean, unless you count a lot of companies over-investing in generative AI and then regretting it, a revolutionary change.” Clippy on Speed Generative AI is still struggling with many of the same challenges as when ChatGPT was first made available to the public in late 2022. For one, AI chatbots still have a strong tendency to “hallucinate,” meaning that their connection to reality is tenuous at best. As NPR points out, experts have also argued that claims of generative AI intelligence are likely exaggerated, and aren’t much more than “autocorrect on steroids”: a statistical model that does little more than recognize patterns in data. Despite being available to the public for several years now, the rate of meaningful corporate use remains dubious. While individual workers are using the tech on a regular basis, companies have yet…MIT Economist Blasts AI Hype, Says It's Too Dumb to Really Impact Jobs