Goldman Sachs: AI Is Overhyped, Wildly Expensive, and Unreliable
Posted by jpluimers on 2024/07/24
If even companies that normally charge a fukcton of money* to advise the obvious gets it, why are so many still falling for it?
[Wayback/Archive] Goldman Sachs: AI Is Overhyped, Wildly Expensive, and Unreliable
“Despite its expensive price tag, the technology is nowhere near where it needs to be in order to be useful for even such basic tasks”
Via [Wayback/Archive] tldr.nettime – tante: “”What this means in plain Engl…”
“What this means in plain English is that one of the largest financial institutions in the world is seeing what people who are paying attention are seeing with their eyes: Companies are acting like generative AI is going to change the world and are acting as such, while the reality is that this is a technology that is currently deeply unreliable and may not change much of anything at all.”
(Original title: Goldman Sachs: AI Is Overhyped, Wildly Expensive, and Unreliable)
- do I really need to mention the USD 4 million contact for figuring out that for NYC, putting garbage bags on OTTO garbage wheelie bins would on the streets would work better than putting plain garbage bags on the streets?
Maybe I just should, as Otto makes their Klikos (which means neither a revolution, nor a new invention: these wheelie bins have been in use in various European countries like The Netherlands for like 5 decades):
- [Wayback/Archive] Liam Quigley on X: ““Welcome to our trash revolution.” Mayor Adams introduces the new bin that buildings with 1-9 units will be required to use instead of loose bags of garbage”
[Wayback/Archive] Rli0MjsNPi1Ch8l0.jpg (1200×675)
[Wayback/Archive] cdn.syndication.twimg.com/tweet-result?id=1810316156613329077&token=!
Videos below the signature.
- [Wayback/Archive] Jeroen Wiert Pluimers @wiert@mastodon.social on X: “@Laurensdroog @MarionKoopmans Otto makes their Klikos (;”
- [Wayback/Archive] Liam Quigley on X: “I ordered a bin, I’ll do an unboxing video when it arrives”
[Wayback/Archive] GR_8MeJboAAKMxn.jpg (1200×839)
[Wayback/Archive] cdn.syndication.twimg.com/tweet-result?id=1810442950016655566&token=!
- [Wayback/Archive] Trash talk: New York City has finally discovered the wheelie bin – and it only cost $1.6m | Arwa Mahdawi | The Guardian
In 2022, the department of sanitation and the city’s Economic Development Corporation awarded a $4m contract to McKinsey to figure out how to deal with trash and design a citywide pilot program. (While the original contract had a maximum legal value of $4m, the consultancy was only paid $1.6 million in the end.)
For more history behind the names Kliko, Otto, Sulo, Milko and others, Google Translate the archived pages: [Wayback/Archive] Wie is Otto? Het verhaal achter de typisch Twentse naam voor een afvalcontainer | Hengelo | tubantia.nl
--jeroen
Videos from small to large via the above JSON links:
- [Wayback/Archive] video.twimg.com/ext_tw_video/1810316097842827264/pu/vid/avc1/480×270/E-WSs2hDJyswa_pv.mp4?tag=12
- [Wayback/Archive] video.twimg.com/ext_tw_video/1810316097842827264/pu/vid/avc1/640×360/KlS3FTX5SRIe9ORj.mp4?tag=12
- [Wayback/Archive] video.twimg.com/ext_tw_video/1810316097842827264/pu/vid/avc1/1280×720/sdeMrsywy8x-tbFk.mp4?tag=12
The Wiert Corner - irregular stream of stuff 
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