The Approaching AI Catastrophe
When it all blows up, who will fix it?
Who is this person about to pour cold water on our new AI utopia? I'll tell you. I founded and ran Europe's largest technology analyst company for 15 years. It was called Butler Group and was sold in 2005. I saw the insanity that is part of the information technology markets at close range, so I would like to make a few observations.
New technologies always follow the same old cycle—excitement, over-expectation, vested interest, unfounded hype, disappointment, and blame. Who got us into this mess? We saw it with the dot-com boom when anyone who had heard the word internet could become an expert. But before I address AI, let me fill you in on the dynamics of technology procurement. It is nicely stated in something called Putt's law. It states:
Those with budget don't know, and those who know don't have budget.