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Research shows more than 80% of AI projects fail, wasting billions of dollars in capital and resources: Report
(www.tomshardware.com)
this post was submitted on 29 Aug 2024
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Imo it's wasted in the sense that the money could have gone towards much better uses.
Which is not unique to AI, it's just about the level of money involved.
What's better than paying someone's salary?
New renewable energy installations.
Research into vaccines.
Malaria distribution.
Higher education endowments.
Heck, just paying the salaries of people working in those fields. Sure, spending money stimulates the economy so I wouldn't go so far as to say it's totally wasted, it's definitely being put to a much better use than just sitting in someone's bank account. But it could be put to a lot better uses. The software engineers could be developing a new program for balancing energy loads, or managing the maintenance of wind turbine fields. The hardware engineers could be optimizing a better autoclave or building a machine that automatically dispenses medicine when fed a script. The PMs could be managing a team distributing aid in Ukraine or designing a new blood drive initiative. Jobs that have positive societal impact, instead of - at best - neutral societal impact.