David Wallace-Wells, a leading science writer, delves into the current complexities and uncertainties surrounding artificial intelligence (AI) in his exclusive newsletter for Times subscribers. Known for his insights into climate change and futuristic technologies, Wallace-Wells offers a critical perspective on the current state of AI, which he calls the “Age of Excess.”
Not long ago, the narrative around AI was dominated by dire predictions and existential risks, with leading figures in the technology predicting dire implications for humanity. However, the conversation has changed dramatically. Recent financial analyses from major firms like Barclays and Goldman Sachs paint a grim picture of AI investment. These reports suggest that AI spending may not produce the returns investors are hoping for, with potential losses amounting to hundreds of billions per year.
Goldman Sachs, for example, predicts that the cost of establishing AI infrastructure could rise to $1 trillion in the coming years, a stark contrast to previous technological advances that sought to reduce labor costs rather than increase them. This shift has Wallace-Wells questioning the true utility of such massive spending on AI, especially when compared to significant national budgets like the U.S. military.
This engaging newsletter encourages readers to reflect on the real results achieved by massive investments in AI and the problems they intend to solve, framing AI not only as a technological evolution, but as a complex economic and social challenge in continuous evolution.
