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Unlike the U.S., China Issues Warning about Dangerous ChatGPT AI Financial Bubble

As someone who grew up with modern computer technology and at one time earned my living from it, and as someone who not only lived through the dot.com financial collapse but has also owned an ecommerce business for over 21 years and has survived multiple economic downturns, it has been plainly obvious to me that the current financial frenzy over chat AI hype is one of the largest developing financial bubbles being blown up with no real model of generating revenue at this time. And yet, hardly any other financial analyst has come out to expose this very dangerous financial bubble that could burst at any time, and potentially sink the entire economy, until today. But that financial analysis over the current spending frenzy regarding AI did not come from any financial analysts in the U.S., but by the Chinese Government. China is the world's second largest investor in technology start-ups by venture capitalists, with only the U.S. spending more. The Chinese government might be regulating the AI industry to prevent a financial crash over this wild speculation in the Tech sector over OpenAI, based on an opinion piece published earlier today in a Chinese financial publication. Chinese shares related to artificial intelligence plunged after a state media outlet urged authorities to step up supervision of potential speculation. The ChatGPT concept sector has “signs of a valuation bubble,” with many companies having made little progress in developing the technology, the Economic Daily wrote in a commentary Monday: "Regulators should strengthen monitoring and crackdown on share-price manipulation and speculation to create “a well-disclosed and well-run market,” according to the newspaper, which runs a website officially recognized by Beijing. Companies, it said, should develop the capabilities they propose, while investors should refrain from speculating." Of course, the U.S. is also threatening regulation over the Tech sector, including TikTok, which currently provides $billions to the U.S. economy. The other huge concerns regarding the feeding frenzy over new AI technology, as I reported in a recent article, is that there are legal issues regarding privacy and copyright issues that could severely curtail using the new OpenAI technology, if not outlaw it altogether.

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WARNING: Faith in Artificial Intelligence is About to Destroy America – A Total System Collapse May be Imminent

As we now enter the first week of the second quarter here in 2023, the United States stands on the brink of a total financial collapse. There are many ways to view the current economic crisis we all face, and the economic factors that have brought us to this point today, such as the steps that were taken in 2008 during the last economic crisis which never solved the problem, but only kicked the can down the road until the crisis grew bigger, or the role that COVID policies played starting in 2020, or the myriad of other factors that have led us to the place where we all stand today. But the view that I choose to write about and explain, since so few others are writing about it, is the Big Tech collapse that began in 2022, with the blowup of the FTX cryptocurrency exchange, and the massive layoffs that began in the world's largest technology companies. While it is hard to put a number on the total financial loss in the U.S. economy due to the FTX collapse, over $30 billion alone was lost just due to bankruptcies of some of the largest cryptocurrency exchanges. And that does not include the two largest cryptocurrency exchanges, Binance and Coinbase, which today are in serious trouble and could also be facing failures and potential bankruptcy. This crisis spread to the banking industry at the end of the first quarter this year, with banks heavily invested in the cryptocurrency market experiencing bank runs and collapse, including Silicon Valley Bank, which at the time was the 15th largest bank in the U.S. And more banks face failure today, as the bank runs have not stopped. But the markets haven't crashed yet, partially because there is so much money in the system that the Fed has created since 2020. And not only has the U.S. stock market not crashed yet, the one sector that one logically would conclude is in the middle of massive correction, the technology sector, which investors should avoid like the plague, is the one sector that is actually increasing, even since the bank failures. This sector, represented mostly on the NASDAQ, is holding up the entire financial system right now (at least as of the end of the last week in March), and I am not the only one questioning the logic of seeing Big Tech as a "safe haven" to park money into today. So if Wall Street financial analysts are warning that Tech stocks are NOT a safe haven to put money into today, what is causing this faith in technology to continue drawing investors, which appears to be the only thing holding up the economy right now and stopping a complete financial collapse? We don't need to look far to see what is causing the latest feeding frenzy in technology these days, as it is in all of our news feeds on a daily basis: Artificial Intelligence Large Language Models (LLMs), such as ChatGPT. LLM based Artificial Intelligence is believed to be a market that will grow to over $1.59 trillion by 2030. However, as in all other technology financial bubbles in the past, all of this money is being bet (not "invested") on the future, not the present, because all we have today are prototype models that don't even work correctly. In spite of all the hype you are reading on a daily basis regarding the latest "AI technology" with these chat bots, they are not actually producing any revenue yet. They are simply sucking up much of the remaining capital in the U.S. market. And now, the chat AI products are in position to be perhaps the biggest financial bubble of all time, and when it bursts, which could be tomorrow, next week, next month, or perhaps not until the end of 2023 or first quarter of 2024, it most definitely could bring down the entire financial system in the United States.

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Creativity and the Human Difference – Why AI Can Never Replace Humans

From the late Stephen Hawking to Elon Musk, some of the smartest people on Earth have issued warnings about the looming danger posed by artificial intelligence. Not only is AI an amazing technology, they say, with the potential for uses both good and bad, but it threatens to replace and destroy humanity. The media love this particular concept and continually seek to scare us with it. Why? The episode calls out the idea for what it is: applied materialism. Materialism is the denial of a spiritual reality. It animates Darwinian thinking, and it drives the panic about AI. After all, if humans are no more than “meat machines,” then a superior machine, equipped with AI, could well choose to do away with us. However, as four notable scholars explain here, AI runs on algorithms, which are essentially a recipe. AI does only what it’s programmed to do. Humans transcend algorithms. We do things that computers will never be able to accomplish.

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Bill Gates Wants to use Artificial Intelligence to Combat Conspiracy Theories

That Borg-like greeting could be coming soon to the internet in the form of new AI overlords. In a recent chilling interview, Microsoft founder and billionaire Bill Gates called for the use of artificial intelligence to combat not just “digital misinformation” but “political polarization.” He is only the latest to call for the use of either AI or algorithms to shape what people say or read on the internet. The danger of such a system is evident where free speech, like resistance, could become futile. In an interview on a German program, “Handelsblatt Disrupt,” Gates calls for unleashing AI to stop certain views from being “magnified by digital channels.” The problem is that we allow “various conspiracy theories like QAnon or whatever to be blasted out by people who wanted to believe those things.” This is not the first call for AI overlords to protect us from ourselves. Last September, Gates gave the keynote address at the Forbes 400 Summit on Philanthropy. He told his fellow billionaires that “polarization and lack of trust is a problem.”

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After Losing $150 BILLION on Chat AI Botched Launch, Google Search Head Explains Their AI Suffers “Hallucination” Giving “Convincing but Completely Made-up Answers”

Worried that their competitor, Microsoft, was pulling ahead in the new excitement over ChatGPT AI search results, Google announced this week that they were launching their AI powered search, BARD, and posted a demo on Twitter. Amazingly, Google failed to fact-check the information BARD was giving to the public, and it wasn't long before others figured out that it was giving false information. Google's stocks lost 7.7% of their valuation that day, and then another 4% the next day, for a total loss of over $150 BILLION. Yesterday (Friday, February 10, 2022), Prabhakar Raghavan, senior vice president at Google and head of Google Search, told Germany's Welt am Sonntag newspaper: "This kind of artificial intelligence we're talking about right now can sometimes lead to something we call hallucination. This then expresses itself in such a way that a machine provides a convincing but completely made-up answer," Raghavan said in comments published in German. One of the fundamental tasks, he added, was keeping this to a minimum. This tendency to be prone to "hallucination" does not appear to be unique to Google's AI and chat bot. OpenAI, the company that has developed ChatGPT which Microsoft is investing heavily in, also warns that their AI may also deliver "plausible-sounding but incorrect or nonsensical answers." So since these new AI chat bots are so unreliable and so easily hacked, why are investors and Big Tech companies like Google and Microsoft throwing $BILLIONS into them? Because people are using them, probably hundreds of millions of people. That's the metric that always drives investment in new Big Tech products that are often nothing more than fads and gimmicks. But if a lot of people are using these products, there is money to be made, and yet another way to track and control people.

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What ChatGPT and DeepMind Tell Us about AI

The world is agog at the apparent power of ChatGPT and similar programs to compose human-level narratives and generate images from simple commands. Many are succumbing to the temptation to extrapolate these powers to near-infinity, i.e. the Singularity in which AI reaches super-intelligence Nirvana. All the excitement is fun but it's more sensible to start by placing ChatGPT in the context of AI history and our socio-economic system.

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The 75-Year History of Failures with “Artificial Intelligence” and $BILLIONS Lost Investing in Science Fiction for the Real World

"Artificial Intelligence" (AI) is all the rage again, including in the Alternative Media in recent days, with fantastic claims about what AI is going to do to transform society in the future. AI is promoted today as "new" technology, but did you know that AI has a 75+ year history of making fantastic claims about how it is going to transform society and replace humans? If you read the history of AI, you will see that many of the claims being made for AI today are not that new at all, and that investors in the AI technology have been losing money on AI for over 75 years now. That is not to say AI cannot be profitable. It can be very profitable if you are in the film industry and create science fiction stories, which Hollywood has been doing at least as far back as the 1930s and the "Frankenstein" blockbuster films. It is also very profitable in today's booming video gaming industry, which is now branching off into virtual reality. But when it comes to actually trying to implement the fictional ideas of AI through technology to produce something of value, like a robot that can replace a human, AI comes up short again and again, for over 7 decades now, because investors are fooled into believing that science fiction can actually be implemented in the real world, outside of the virtual reality fake world.

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Big Tech Crash Extends into 2023 as Does Science Fiction with “Hackable Brains” False Prophecies

The Big Tech crash that started in 2022 has now extended into 2023. The Big Tech companies have continued with massive layoffs here in the first few weeks of 2023. Here are some recent headlines: "Microsoft to Layoff 10,000 Employees as Part of a Massive Cost-Cutting Initiative" - "Amazon Announces Massive, Unprecedented Layoffs, Citing 'Uncertain Economy'" - "Google parent company Alphabet to eliminate 12,000 jobs" - "Facebook Parent Meta Is Preparing to Notify Employees of Large-Scale Layoffs This Week" - One of the big news stories of 2022 was the virtual death of the concept of fully autonomous self-driving vehicles. After decades of spending $billions of revenue in trying to develop a fully autonomous self-driving vehicle, Ford, Volkswagen, and many others finally pulled the plug on continuing to dump money into this concept, realizing that they had wasted significant resources in trusting the Technocrats and their techno-prophecies. The biggest B.S. AI story of the week, and one that was reported in multiple Alternative Media sources, was about Nita Farahany's presentation at the World Economic Forum regarding AI "decoding brain activity." And judging by how many publishers in the Alternative Media ran with this story, it is obvious that many actually believe that this science fiction is real.

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