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Kaleberg's avatar

I think biologists call it punctuated equilibrium. Technologies go through periods of rapid change alternating with periods of relative stasis. There's usually something that enables the change. The Otto cycle engine enabled automobiles and airplanes, and for a long time new cars were the high tech of the day. I always likened Steve Jobs to Henry Ford with his company expected to innovate but often at the edge of bankruptcy. The Moore's Law era did the same thing for computers, moving them from the laboratory into just about everywhere and everything. Now, they're more like cars in the 1990s.

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Steve Newman's avatar

You make a great point that the inevitability of rapid advances in any product involving electronics or software is based more on the memory of the past than the actual truth of the present day.

When it comes to AI, however, I worry about an over-correction. The breathless hype of a year ago was so over the top that we've learned to discount expectations of progress. (At least many of us have. Some folks of course are still talking about "AGI" on timelines as short as 2-3 years.)

As a 40-year veteran of the software industry, and someone who has been following AI closely for the last year, I do believe that AI is going to be as incomprehensibly, terrifyingly transformative as the hypesters claim – it'll just take a while (10-40 years?) to get there. There's enough economic value in the current models, and enough incremental economic value to be unlocked at each further step along the way, that the industry is going to spend whatever it takes to keep pushing forward – just as it did to keep Moore's Law running for so many decades.

And so I worry that folks who correctly recognize that AI is over-hyped today, may fail to notice as the reality catches up with the hype – which might happen gradually, and then suddenly.

(I explore these ideas in my substack, which I won't link to here but you can find it by clicking on my username.)

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