Of course it doesn’t. Only idiot tech Bros think that AI would bring about great financial wealth.

Even if AI worked perfectly all of the time all you’re doing is replacing a human with the machine. So at best you’re going to get the same value of the money with a minor saving on wages. But it’s not going to generate wealth is it? If you replace everyone with AI then no one will have any jobs and no one will buy anything.

The only way that AI can bring about massive living improvements is if it acts as a stimulus to get governments moving on social reform. We all know that’s not going to happen in corporate America anytime soon.

Basically, saying what a lot of us already suspected. AI may be a complementary tool at best, just like all other tools we have to pay for.

"AI may be a great calculator, but in business, intelligence is mostly judgment,” he wrote, later adding, “AI does not understand accountability, trust, culture, unwritten rules, ethical trade-offs or fairness, all of which shape reputational risk and ultimately drive revenue growth and profit margins.”

Having worked at many companies in many different industries over the past few decades, it has been my experience that almost no one knows anything from the C-level to the entry level. This includes myself. We are not important cogs in the machine. The vast majority of any jobs in any business could be entirely removed and everything would continue moving forward without them. So the reason corporate America isn’t seeing any productivity gains is because you do not get a productivty increase by using AI to automate doing nothing. You’ve already reached maximum productivty by being useless and providing no value.

reading through a couple of comment sections in the FT and WSJ and so many commenters ise AI for financial analysis, i was… surprised