The promise of AI, for corporations and investors, is that companies can increase profits and productivity by slashing their reliance upon a skilled human workforce. But as this story and many others show, AI is just today’s buzzword for “outsourcing,” and it comes with the same problems that have plagued outsourced companies and workforces for decades.
The current AI bubble started around february of last year when every C-level of every major company entered into a mass hysteria about being left behind if they didn’t integrate LLMs into their service. This is different from the zeitgeist that came before it.