AI Bubbles are Bursting with Andrew Orlowski

Today we’ve got a guest who's been doing our job for decades. Andrew Orlowski is a writer who has followed the technology industry for two decades, so he’s see the hype cycle peak and trough many times.For more on Bubble Trouble, including transcripts of the show, visit us online at http://bubbletroublepodcast.comYou can learn more about Richard at https://www.linkedin.com/in/richard-kramer-16306b2/More on Will Page at: https://pivotaleconomics.com(Times below correspond to the episode without considering any inserted advertisements.)In this episode of Bubble Trouble, hosts Richard Kramer and Will Page are joined by veteran technology journalist Andrew Orlowski. They delve into the recurring market bubbles and dissect the relentless hype surrounding AI and machine learning. Orlowski discusses his track record in identifying technology bubbles and shares his skepticism about the transformative claims made about AI, comparing it to historical overhyped innovations like the metaverse and cryptocurrency. The discussion also touches on the implications of AI on productivity, labor markets, and the economy at large, highlighting the disconnect between policy elites’ expectations and real-world applications. Throughout, the panel emphasizes the broader societal impacts and the role of critical scrutiny in understanding technological advancements.00:00 Introduction to Bubble Trouble00:44 Part One00:49 Meet Andrew Orlowski01:43 The Origins of Bubble Trouble02:06 Spotting Bubbles: Andrew's Track Record02:39 Google's Market Manipulation07:00 The AI Hype Cycle12:08 AI's Economic Impact and Skepticism19:10 The Future of AI and Technology26:13 Debunking the Efficiency Myth in Tech Companies26:39 The Role of AI in Financial Markets28:10 AI Skepticism and the Hype Cycle28:20 Part Two29:02 The Future of Chatbots and Machine Learning30:06 Public Skepticism vs. Elite Optimism35:54 The Nature of Work and Productivity42:13 The Middle Class Advantage in the Modern Workplace45:40 The AI Bubble and Its Implications49:01 Smoke Signals: Red Flags in the AI Industry51:19 Conclusion and Final Thoughts51:51 Credits Hosted on Acast. See acast.com/privacy for more information.