Investors have been happy to incentivise companies to hire idiot CEOs and managers who say the right buzzwords but reduce output by making bad decisions and only hiring people who don’t think they’re bad decisions, so an automated buzzword-dispensing idiot isn’t necessarily going to seem to investors like a downgrade compared to what they think most workers are. They’re just as likely to think AI lets them invest in companies where even the lowest tier employees are potential CEO material, and continue not noticing that the per-employee efficiency keeps going down. Data showing that layoffs nearly never pay for themselves doesn’t stop stock prices soaring whenever one happens, so I wouldn’t expect data showing AI makes companies less profitable to stop stock prices going up when a company announces a new dumb way they’ll use it.
Investors have been happy to incentivise companies to hire idiot CEOs and managers who say the right buzzwords but reduce output by making bad decisions and only hiring people who don’t think they’re bad decisions, so an automated buzzword-dispensing idiot isn’t necessarily going to seem to investors like a downgrade compared to what they think most workers are. They’re just as likely to think AI lets them invest in companies where even the lowest tier employees are potential CEO material, and continue not noticing that the per-employee efficiency keeps going down. Data showing that layoffs nearly never pay for themselves doesn’t stop stock prices soaring whenever one happens, so I wouldn’t expect data showing AI makes companies less profitable to stop stock prices going up when a company announces a new dumb way they’ll use it.