This article and others believe so.
I believe this is the case. Companies have committed significant resources to not falling behind in AI yet the costs of it are so high and the quality is inconsistent. I wrote earlier posts about this. With the lack of skilled IT people, companies don’t have a clear direction on what to do with AI. So they integrate it into their products and it doesn’t always have a clear benefit and introduces new vulnerabilities.
One of the things that we are great at doing in capitalism is jumping on the bandwagon. If everyone is doing it, we should be doing it as well. That is a very poor strategy in life. I have seen many companies financially fail because they tried to do something expensive that just didn’t make economic sense for them. You have to think through things and consider if the ROI is there and if it isn’t, then why it is done?
I get it. AI is tempting for companies to replace expensive labor. We are not there yet. As a society, we have to find a place and solution for people who have no jobs, or no one will have money to buy your product. It is such short-term thinking. What should be the case is that people who find a way to automate things should directly profit from the time/labor saved. Then people would want to automate. Now if you work hard and do your job, your reward is not having a job. Does this make sense as a human motivator? This is why AI isn’t working. We don’t have a way to feel secure that we won’t all be homeless.
The rich and powerful want to have robots and AI and workers don’t want to be homeless. Isn’t there a third solution here that benefits everyone? I think until we find that, AI won’t truly be reliable, trustworthy, and ethical.