AI Winter is Coming: Technological Revolutions and Financial Capital: The Dynamics of Bubbles and Golden Ages
** AI Winter is Coming ** AI is a technological revolution. We take for granted that such revolutions occur. Yet understanding their economic and societal consequences remains elusive. Looking backward is the only reliable compass, and today’s pattern is familiar: a new general-purpose technology appears, spreads unevenly, and begins the long, messy process of reorganizing everything around it. * “When general purpose technologies exist, they are a model that can be followed by all, but [whose] configuration takes time, about a decade or more.” * ...