Citation needed
While the genie never in history went back into the bottle, this hype cycle is coming of the rails right now.
Computer assisted pattern recognition has proved useful for sorting trash, checking medical images or assisting drivers. Those applications have existed for a long while, can fit into a power budget of 200W on current hardware and have obvious uses in daily life or professions.
Computers were allowed to be non-deterministic when Babbage, Turing, Zuse, Newman, Neumann, Hopper and countless others did their pioneering work. Relays getting stuck and tubes burning out used to be okay. Then computers went to space and landed on peoples desks. Since then, getting computing wrong largely became unacceptable. Recent prominent entries are Intel Pentium FDIV bug or AMD Ryzen segfault.
And then again starting in 2022 when silicon valley lost their collective marbles over text synthesis.
Since the current iteration of LLMs is for all practical purposes non-deterministic, and as IBM noted in 1979, tools can not be held accountable, what do we have for our 1600 billion dollars?
Novelty search? Questionable auto-complete? Eh...?
AI-boosters should be banned from speaking in future tense here!
"Research house Forrester, for example, predicts that by 2030 AI will wipe out 10.4 million US jobs. That's 6.1 percent of all US jobs if you're counting at home."
Taking US BLS numbers, US unemployment depending on time frame, is adjusted for season, up by 0.8% since 2019. Extrapolating from that, good luck. As for ten million out of a job, that would mean 2009 or COVID levels of unemployment. Should ring alarm bells round the globe, if true. Since it is mostly quiet outside of the chronically online folk and some rushed legislation based on hype, TBD here.
"Eventually, though, AI will be cost-effective and efficient enough to kill off many white-collar jobs. It just won't be as soon as many bosses want."
Based on what? The trend presented by the numbers so far shows a linear improvement for a exponential increase in compute. That is non-ideal if the goal ever was to turn a profit. Throwing more data is impossible (outside of Fahrenheit 451-style approach to books). Either someone invents new math or this frontier is a brick wall.
"There are a plethora of AI businesses, but I suspect many of them are dead companies walking."
Are there though?
OpenAI, Anthropic, and...? Who? Anyone else?
"Another issue is that, thanks to AI, we're increasingly unable to tell the truth from fiction."
That was the case before. Education was axed and simple answeres preferred over the correct ones. People are either ignorant to their world or too dumb to notice the consequences to their actions.
"AI has gotten good at coding, but it still sucks at facts, and I don't see that changing anytime soon. "
Has it? Has anyone done research on this? Take some models, take some devs, take some regular folk. Same task, compare efficiency of the solution, in Big-O notation, CPU-cycles or watt-hours. Any citation?
"A decade from now, we'll all be using AI, and our kids will be wondering what all the fuss was about"
They will learn about it in school, probably in a politics or economy class, in a lineup of 1929, (2000), 2008 and 2028. Alternatively try Schumpeter:Capitalism, Socialism & Democracy, Chapter 8 to 10. I'll wait.
"proclaim yourself a 21st-century Luddite"
I will. Because they were right. Working conditions in the factories were atrocious to deadly. The society that developed from there, the have's, the have lot's and the poor sods is ongoing. Outcome TBD.
As with the calculator example, the human mind is a serious case of "use it or lose it".