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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)

submitted 3 months ago by Alphane_Moon@lemmy.world to c/technology@lemmy.world

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RAND Report - The Root Causes of Failure for Artificial Intelligence Projects and How They Can Succeed

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[-] ContrarianTrail@lemm.ee 46 points 3 months ago* (last edited 3 months ago)

Isn't it good that the money is being put back into circulation instead of being hoarded? I'm all in for the wealthy wasting their money.

[-] SapphironZA@sh.itjust.works 45 points 3 months ago

The problem is the bulk of it is going to Nvidia.

[-] Steve@startrek.website 24 points 3 months ago

Don’t forget all the fuel burned for electricity to power it!

[-] lemmyvore@feddit.nl 9 points 3 months ago

Well probably not just Nvidia but the next likely beneficiaries are in the same range (Microsoft etc.)

[-] sugar_in_your_tea@sh.itjust.works 2 points 3 months ago

The money goes to Microsoft/Google/Amazon/etc, which they goes to Nvidia.

[-] lemmyvore@feddit.nl 1 points 3 months ago

They buy the hardware once then sell services based on it.

[-] sugar_in_your_tea@sh.itjust.works 1 points 3 months ago

Sort of, they buy the hardware and sell services, and then buy upgraded hardware. Nvidia is a pretty big part of the sales cycle.

[-] finley@lemm.ee 14 points 3 months ago* (last edited 3 months ago)

Kinda, but it’s like feeding a starving child nothing but candy until they die.

¯\_(ツ)_/¯

[-] IphtashuFitz@lemmy.world 13 points 3 months ago

I’m willing to bet the vast majority of that money is changing hands among tech companies like Intel, AMD, nVidia, AWS, etc. Only a small percentage would go to salaries, etc. and I doubt those rates have changed much…

[-] lemmyvore@feddit.nl 5 points 3 months ago

They typically use internal personnel and being parcimonious about it so you're right about that.

[-] Bluefalcon@discuss.tchncs.de 4 points 3 months ago

The larger issue that people always fail to remember is the energy consumption. We are see massive amounts of electricity.

One peer-reviewed study suggested A.I. could make up 0.5 percent of worldwide electricity use by 2027, or roughly what Argentina uses in a year. Analysts at Wells Fargo suggested that U.S. electricity demand could jump 20 percent by 2030, driven in part to A.I.

The wealthy are under sailing like always. Just like we did with cigarettes or burning fossil fuels. We should have learned but it by the time we do, it might be to late.

https://archive.ph/AqhHz

[-] explodicle@sh.itjust.works 3 points 3 months ago

Thats a "Parable of the Broken Window". They could be spending their money on something actually useful.

[-] sugar_in_your_tea@sh.itjust.works 3 points 3 months ago

But they probably wouldn't, they'd just throw it at gold, crypto, or something else that doesn't provide any real value.

[-] explodicle@sh.itjust.works 1 points 3 months ago

Even stuffing it under a mattress is better than wasting people's time.

this post was submitted on 29 Aug 2024

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