📨 Weekly digest: 28 2024 | High AI cost: barrier or bump in the road?
Is AI the next internet, or a pricey one-trick pony? | AI this week in the news; use cases; for the techies
👋🏻 Hello friends, and welcome to the weekly digest, week 28 of 2024.
“Even in its infancy, the internet was a low-cost technology solution that enabled e-commerce to replace costly incumbent solutions…AI technology is exceptionally expensive, and to justify those costs, the technology must be able to solve complex problems, which it isn't designed to do.”—Jim Covello - Global Co-Head of Single Stock Research at Goldman Sachs
LLMs face the initial developments of AI models as expensive. However, unlike traditional solutions, AI can learn and improve over time. The internet itself required substantial initial investment in infrastructure, but its ongoing cost is minimal compared to the value it provides. We can expect similar cost reduction trends with AI as the technology matures.
AI can analyze vast amounts of medical data to identify diseases earlier, predict health risks, and personalize treatment plans. It can also assist in drug discovery and the development of more targeted therapies.
It can automate tasks with incredible efficiency, freeing up human resources and reducing operational costs. Imagine AI streamlining logistics, optimizing energy consumption, or automating complex financial analysis. These efficiency gains can outweigh the initial investment.
It might solve intractable problems. While some AI solutions might not be tackling complex problems, AI's strength lies in its ability to handle massive datasets and identify patterns invisible to humans.
This can lead to breakthroughs in previously unsolvable challenges in healthcare, materials science, or environmental protection.
What do you think? Do you want to live forever, thanks to AI?
If you haven't already, you can start with our new series: AI dystopia series | The genesis: a flawed utopia:
I am looking forward to reading your thoughts in a comment.
Happy days,
Yael et al.
🦾 AI elsewhere on the interweb
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