That’s exactly what this article, sent to me by a valued Stenonymous reader, raises.
This has been my position for some time. We could be sitting in a bubble ready to pop. You’d never know it because the tech-heads have enough money to create spin media all day, every day for the next 100 years.
I’ve written countless times about this kind of stuff. It boils down to AI is a solvable problem. Solving a problem does not inherently make money, nor does it necessarily make enough money to justify its existence. This was the issue I had with it being forced on us by our manufacturers too. ASR has a much more viable moneymaking model (replacing us). It’s struggling to do that with all the millions and billions invested in ASR in the last 20 or 30 years. And in an industry that’s only about 3 billion a year, what are they really gaining?
Pyrrhic victory scenario, really. There are all these overblown estimates of the market for speech recognition being $50 billion by 2029 or whatever, but we’ve been in the speech recognition game for like 200 years. Court reporting market’s like 3. Captioning market’s like 6. Where’s all the other money from “speech recognition” going to come from? We already have automated customer service and the like. Why would companies pay more for a fancier version?
Maybe somebody with an inside line can come in and comment.
What I wrote in 2019 was pretty prophetic, huh?
I had people I really love laugh at me because I wrote stuff like that.
Maybe we’ll all get to laugh together someday.
Is AI America’s next big investment bubble?
Will we enter a new AI winter?
Guess we’ll find out.
Together.
I have maintained that AI in it’s current state is not viable and communicated that to this page and anyone who could stand to listen to me for 3 minutes. I had a short stint in a company that is veri, veri invested in AI and that company was feeding a monster that will eventually come back to eat it. To me, that was a metaphor for what I’ve seen in the ASR industry. They will dig in and feed the beast more, but it’s not sustainable for what the returns will be.
I feel companies that are investing in this for the court and medical realm are going to Bitcoin-fail eventually.
I have a whole lot more to say but will mercifully spare you.
Please don’t spare me. Please write me a piece to be published on Stenonymous. We want opinions here, believe it or not. Ones that agree. Ones that don’t. Please reach out any time you have more to say.