Tech giants and beyond are set to spend over $1tn on AI capex in coming years,
with so far little to show for it. So, will this large spend ever pay off? MIT’s Daron
Acemoglu and GS’ Jim Covello are skeptical, with Acemoglu seeing only limited US
economic upside from AI over the next decade and Covello arguing that the
technology isn’t designed to solve the complex problems that would justify the costs,
which may not decline as many expect.

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