AI is overhyped and I think investors are starting to catch on. I have yet to hear how the AI companies, (ChatGPT, Claude...etc....) are going to make back the money money being spent on datacenters,(100s of billion$). As far as I can tell there really doesn't seem to be a big demand since both Meta and Google are selling their comute to the AI firms rather than using it for their own needs. Also, there is now a race to the bottom on token pricing further exacerbating the issue of profits. I don't see the profits meeting the expenses or even coming close. So, How does this effect Corporate America's embrace of the tech?
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@OP when the AI bubble bursts, ELT will just have a convenient scapegoat for their terrible decisions - "the market is bad, thats the reason we aren't delivering our firm outcomes!". They'll sweep bad decisions under the rug, provde spin about needing to tighten our belts (mostly through cost cutting us and not themselves) and never actually be held accountable with repercussions
@ar There isnt, and what these dipsh-ts in ELT don't realize is the EDJ reputation as a "great place to work" has been tainted big time in St Louis. The only people who will be applying for jobs here will be people who simply need a paycheck or need to get a couple years experience before jumping to the next best thing. Nobody will want to be in it for the long haul if all we are known for is being like wells fargo with less pay. Good work P#nny. You were handed your grandfather's 100 year old watch passed down from generation to generation and you managed to take it apart thinking you could make it run better without any clue as to how to get it back together. A potato would a better MP at this rate.
@av Oh, they are starting notice already. They are also tired of the busy body GPs who need to make a name for themselves, and end up coming up with one horrible metric after another or want branches to be micromanaged harder. Right now it feels like everyone is high on AI supply while the bubble is already starting to show signs of a major reduction. 2027 will be the year the SHTF because our "2030 vision" will completely go off the rails as PP and ELT clown gang gear up to name a new MP.
I think the real question, is when does the field start to realize that their hard earned money and record breaking profits is getting eaten up by paying for tokens?
My biggest question is what happens when AI eventually comes back down to earth. Jones will layoHBAs, and a lot of longtime employees will probably retire within the next five years. Do they really believe there is enough new talent in St. Louis to replace all of that experience and remain relevant?
@a5 ding! Ding! Ding! That’s the plan of all of these AI companies. While all the execs are looking at AI as a tool to maximize short term profits and drive up stock prices, the AI execs are using it to gather info about their businesses so they can either sell it back to them as consulting services or just subsume them completely down the road by selling it directly to consumers. I’m not sure most execs really care either way. The vast majority of them aren’t the original builders of their businesses and have no real connection to them. They stepped into roles “running” these companies and are just looking to cash out with as much money as possible.
@a5 Yes. The push to use AI is so the AI can "learn" what we do then once it can do 1/100th of your job, susan mcdummy can then declare human capital is no longer needed, PP puts on a fake sad face again, DC rubs his hands together with glee over the cost savings, and out the door you go.
@a3 That's another weird thing about AI. When your company is "training" the AI isn't the company in essence giving their business plan to the AI companies?
Shhhh 🤫 ...you are not supposed to talk about this. Everything is fine and the math is totally legit on AI and said bubble. PP said it herself that AI is the future of financial planning and she is clearly a high IQ individual who is grounded in reality. Stop using logic, math, and common sense to discuss this elephant in the room. Instead, how about drinking another big ole glass of kool aid and reading up on how great our CULTure is here 👍