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Goldman Research Head Skeptical on AI Returns Despite Massive Spend: Goldman Sachs' head of global equity research Jim Covello has expressed skepticism about the potential returns from AI technology, despite an estimated $1 trillion in planned industry investment over the coming years. In a recent report [PDF], Covello argued that AI applications must solve complex, high-value problems to justify their substantial costs, which he believes the technology is not currently designed to do. "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," Covello said. Unlike previous technological revolutions like e-commerce, which provided low-cost solutions from the start, AI remains prohibitively expensive even for basic tasks, he said. Covello also questioned whether AI costs would decline sufficiently over time, citing potential lack of competition in critical components like GPU chips. The Goldman executive also expressed doubt about AI's ability to boost company valuations, arguing that efficiency gains would likely be competed away and that the path to revenue growth remains unclear. Despite the skepticism, Covello acknowledged that substantial AI infrastructure spending will continue in the near term due to competitive pressures and investor expectations. Read more of this story at Slashdot.

Goldman Research Head Skeptical on AI Returns Despite Massive Spend: Goldman Sachs' head of global equity research Jim Covello has expressed skepticism about the potential returns from AI technology, despite an estimated $1 trillion in planned industry investment over the coming years. In a recent report [PDF], Covello argued that AI applications must solve complex, high-value problems to justify their substantial costs, which he believes the technology is not currently designed to do. "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," Covello said. Unlike previous technological revolutions like e-commerce, which provided low-cost solutions from the start, AI remains prohibitively expensive even for basic tasks, he said. Covello also questioned whether AI costs would decline sufficiently over time, citing potential lack of competition in critical components like GPU chips. The Goldman executive also expressed doubt about AI's ability to boost company valuations, arguing that efficiency gains would likely be competed away and that the path to revenue growth remains unclear. Despite the skepticism, Covello acknowledged that substantial AI infrastructure spending will continue in the near term due to competitive pressures and investor expectations. Read more of this story at Slashdot.

Goldman Research Head Skeptical on AI Returns Despite Massive Spend: Goldman Sachs' head of global equity research Jim Covello has expressed skepticism about the potential returns from AI technology, despite an estimated $1 trillion in planned industry investment over the coming years. In a recent report [PDF], Covello argued that AI applications must solve complex, high-value problems to justify their substantial costs, which he believes the technology is not currently designed to do. "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," Covello said. Unlike previous technological revolutions like e-commerce, which provided low-cost solutions from the start, AI remains prohibitively expensive even for basic tasks, he said. Covello also questioned whether AI costs would decline sufficiently over time, citing potential lack of competition in critical components like GPU chips. The Goldman executive also expressed doubt about AI's ability to boost company valuations, arguing that efficiency gains would likely be competed away and that the path to revenue growth remains unclear. Despite the skepticism, Covello acknowledged that substantial AI infrastructure spending will continue in the near term due to competitive pressures and investor expectations. Read more of this story at Slashdot.

AI is one sector that has been gaining traction in recent times is the realm of Artificial Intelligence (AI) So lets look carefully at AI stocks under $5, exploring their potential, risks, and the opportunities they present for investors. https://lnkd.in/dG9Rh2W6

Do you have questions or concerns about how your alts firm can effectively deploy generative AI solutions to quickly drive value? BlueFlame AI Head of Europe James Tedman explains how to get over the FUD associated with AI and leverage BlueFlame’s out-of-the box functionality to manage many of your daily activities. Read more: https://lnkd.in/gCcWY4bB??? ? #generativeai #automation #privateequity #hedgefund?

Générative AI LLMs are fun. Impressive fast production of well structured texts based of token of probabilities. Unreliable as capable of ‘bullshiting’. LLM cost/benefit analysis is highly negative. The environmental cost above all makes them totally unethical.

Tell me you don't know how to leverage GenAI without telling me you don't know how to leverage GenAI ?? Interesting commentary from certain individuals in a report by Goldman Sachs that demonstrates they don't know how to harness GenAI. It's a shame for them; they will be the ones missing out and ultimately their organisations will not be competitive, if they do not adopt GenAI (and learn how to implement it properly). Our clients at Elixirr regularly achieve 90%+ efficiency and productivity enhancements for complex workloads that historically required expert humans to complete. Those same expert humans are now able to complete a significant amount more work, with greater accuracy, using GenAI. The feedback has been overwhelmingly positive, from the expert humans to the leadership achieving significant ROI. Is it worth it? Only if you do it properly! #AI #ArtificialIntelligence #GenAI

My take is that we are still missing the adoption part and the government capacity to lead the process and enable the ecosystem to thrive! That′s why we urgently need to ACCELERATE AI, data and digital transformation adoption in Europe and worldwide ! The good news is that some of us are starting to working seriously on it ?? Inspiring Futures AI4Gov_EU Claudio Feijoo Francesca Rizzo Francesco Molinari francesca campolongo Natalia Aristimu?o Andrea Halmos Lucilla Sioli InTouchAI.eu - International outreach for a human-centric approach to artificial intelligence Digital Partnerships in Action Re-Imagine Europa DIGITALEUROPE EU Digital & Tech EU Science, Research and Innovation

On principle we appreciate two things about this Goldman Sachs FICC and Equities take. One, hype does often travel too fast and the noise it introduces in the system can indeed be disorienting for the majority. Second, we respect an independent take, irrespective of its alignment with consensus. That said, for a well crafted pipeline, as we’ve done with our Bloom offering—one that is throughly tested to be stable, and proven to be 5x+ more cost efficient, moving to an AI solution can easily be a strong contender, if not a glaring no-brainer. #enterprise #ai

AI is potentially the greatest disruptor in human productivity of our time. What does it mean for investors and portfolio managers? Learn more about how the investment industry leverages artificial intelligence here: https://lnkd.in/gPSiWsMZ #atbim #ai #investing