A McKinsey & Company report reveals widespread concern over AI investments, predicting a possible need for $7.9 trillion in datacenter infrastructure by 2030. However, the report highlights significant uncertainty about future demand, noting that precise investment calculations are challenging. There is a critical question regarding whether AI can deliver substantial business impact or if it will primarily remain a resource-intensive pursuit. Notably, early findings suggest that generative AI has not yet affected earnings in various jobs, challenging the narrative that AI will automate jobs and reduce costs significantly.
A lack of clarity about future demand makes precise investment calculations difficult. Will demand for datacenters continue to rise, or will it fall as advances are made?
Generative AI has had no significant impact on earnings or recorded hours in any occupation, despite billions poured into models. What if AI isn't a magic bullet?
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