BAIDU CEO PREDICTS AI BUBBLE BURST, WIPING OUT 99% OF COMPANIES; AUSSIE BANK GLITCH DRAINS ACCOUNTS; CHINA CRACKS DOWN ON ONLINE SLANG; DJI FILES SUIT IN US BLACKLIST BATTLE
In what some analysts are comparing to the dot-com bubble of the late nineties, we are faced with a new prediction making rounds in Silicon Valley and tech circles - a potential huge wipeout of AI (Artificial Intelligence) startups. This bold forecast comes from Robin Li, the CEO of Chinese multinational technology company Baidu. True to his Silicon Valley pedigree, Li's outlook isn't just for a handful of startups; he is predicting a staggering 99% of AI startups may face extinction.
Li further paints a grim picture, or an AI sector 'bubble,' wherein a mere one percent of AI companies will bring about significant value for society. His views resonate with the technological lore of the 90s when many internet-based companies' value inflated dramatically and suddenly declined, an event now famously known as the dot-com bubble.
AI has been considered a breakthrough technology with transformative potential. Among his key observations, Li mentioned that significant advancements have been made concerning eliminating mistakes from AI bots' responses. In a peek into the future, Li conjectured that it might take anywhere between 10 and 30 years before we see significant human jobs displacement due to AI.
In the meantime, artificial intelligence’s impact on society isn't in some distant future but rather here now, subtly influencing various sectors. Case in point, a recent incident at the Commonwealth Bank of Australia where a glitch led to duplicated transactions and ultimately emptying some customer accounts. Events such as these spotlight the inseparability of technology and our day-to-day lives.
In another corner of the world, Chinese drone maker DJI has filed a lawsuit against the US Department of Defense. The reason? Clearance issues for its products at U.S. customs - a situation DJI chalks up to a simple 'misunderstanding.'
On a cultural front, Beijing, perhaps threatened by modern colloquialism, has initiated a crackdown on online slang that may, directly or indirectly, criticize the Chinese Communist Party (CCP). This is being conducted under the banner of its 'Clear and Bright' campaign.
Japan isn't far behind in bearing the digital burden; to combat online disinformation and misinformation, tech titan Fujitsu is leading an initiative to develop a counteracting platform with other organizations.
Unsurprisingly, despite a somewhat dystopian view of AI's future and ongoing digital dilemmas in various countries, business hasn't merely survived but is flourishing in the APAC region. This can be evidenced by business deals such as South Korea's Hyosung Corp's substantial investment in Vietnam, along with strategic collaborations like that between Airbus and Toshiba on research into hydrogen-powered aircraft.
From the bubble-like prediction for AI to shifting cultural norms and technological strides, the path forward leans heavily on how we harness and navigate this digital era in all its complexity, cementing the fact that today's happenings will leave indelible imprints on our future.