State of the Market

[dsc]

Yes, I would say give it another 6 to 9 months if you can. Either we get the "soft landing" by some weird fluke and the market starts to recover, or we find ourselves in a severe recession. Personally I think there has to be a crash before the recovery as so many financial indicators are at historical extremes right now.

Can't see a soft landing in the UK tbh, luckily gilts have calmed down a bit, but still come March there will be cuts to, well whatever can be cut, as borrowing costs are too high and the government has a huge deficit which it needs to somehow lower. Growth is around 1% which is laughable and yes I know most of Europe is in the same boat, but I feel UK is especially fecked due to the amount of debt.

AI might be booming, but I'd say that it's an industry which requires very niche skills, so for most of us here I doubt it makes a big difference.

[SchumiStars]

AI has got literally hundreds of billions of dollars of investments and this is across the world.

Where?

Have you seen this?

Have people been startled by how good it is and how it's going to save the world?

Have Samsung, LG, Sky invested into AI?

What about aviation or the defense sector, are they now using AI to help them?

How about sport, has AI managed to work out who will win the premier league, it certainly does not look like Arsenal and if so, how much money should I bet? It's AI, right, it can't be wrong.

What about the investment banks, can they save loads of money or are the stockbrokers now using this new tech to find new avenues to invest in?

I suspect not.

Outside of ChatGBT and CoPilot, AI is deader than dead. Anyone looking or banking on that will have a hard awaking.

[siddhantkumar]

Where?

Have you seen this?

Have people been startled by how good it is and how it's going to save the world?

Have Samsung, LG, Sky invested into AI?

What about aviation or the defense sector, are they now using AI to help them?

How about sport, has AI managed to work out who will win the premier league, it certainly does not look like Arsenal and if so, how much money should I bet? It's AI, right, it can't be wrong.

What about the investment banks, can they save loads of money or are the stockbrokers now using this new tech to find new avenues to invest in?

I suspect not.

Outside of ChatGBT and CoPilot, AI is deader than dead. Anyone looking or banking on that will have a hard awaking.

AI (chatgpt, copiolet) is being used day to day work at my client working in energy trading.
defence is already using it to identify and track flying drones. Big FMCG’s (unilever and like) are using it for better procurement and distribution and predicting demand/supply issues. This is main reason for lower waste (no more yellow sticker items post xmas)

[gables]

AI (chatgpt, copiolet) is being used day to day work at my client working in energy trading.
defence is already using it to identify and track flying drones. Big FMCG’s (unilever and like) are using it for better procurement and distribution and predicting demand/supply issues. This is main reason for lower waste (no more yellow sticker items post xmas)

Genuinely interested in this, maybe a business thread in it's own right.....

is your client using ChatGPT, CoPilot behind the scenes as it were or is it humans\traders typing in prompts (the only I know how to use them)?

Is AI being used as a bit of a catch all term? Before AI I would have thought defence could already identify (image processing\matching) and track (radar) flying things? Haven't FMCG's used data analysis\maths to predict demand\supply before AI?

Like I said genuinely (not trolling) interested.

[SussexSeagull]

To say AI isn't already being used productively in certain areas is plain wrong (although I suspect some of them aren't actually AI, just quite clever systems). I am sure it will increasingly be used in the Software Development process, although a lot of that was automated anyway, but is that contributing to the current malaise in the job/contract market?

I still go to clients (well, used to up to a few months ago anyway!) that still run their projects off spreadsheets. I am not sure they are going to be making the leap to AI soon.

Plus there is such a thing as accountability. If at the moment an issue gets into live there can be people accountable at the analysis, design, develop, test and deployment stages. If we get to a stage where it is someone entering parameters into an AI code generator before it being released into the world because human testers have been made redundant by AI and it is deployed automatically and something goes wrong, whoever entered the parameters can rightfully point out they didn't produce the code so isn't responsible.

I appreciate that is an extreme example, although one being mooted by some, but are stakeholders and auditors really at a stage they lose several human quality gates? I think that is a while off, although I suspect it is beginning to put doubt in the eyes of potential project sponsors who think if they start a multi year project now it will be out of date by the time it goes live.

Some of us remember the Dot.Com bubble at the turn of the century. There was a crash before it came back at a steady pace and realised its potential. I suspect that will happen with AI.

[SussexSeagull]

Genuinely interested in this, maybe a business thread in it's own right.....

is your client using ChatGPT, CoPilot behind the scenes as it were or is it humans\traders typing in prompts (the only I know how to use them)?

Is AI being used as a bit of a catch all term? Before AI I would have thought defence could already identify (image processing\matching) and track (radar) flying things? Haven't FMCG's used data analysis\maths to predict demand\supply before AI?

Like I said genuinely (not trolling) interested.

I used to work in voice recording solutions and trading floors and the regulator determined all calls between traders were recorded. In fact I believe they weren't allowed to use their own mobiles to get round this.

With that in mind, I would love to know the FCA think about traders consulting with a machine learning algorithm where you don't know where it picked up it's 'learnings' from.

[SussexSeagull]

Also, I don't imagine organisations are overly keen to be teaching ChatGPT for other's benefit.

https://www.pcmag.com/news/samsung-b...oprietary-code

[gables]

Also, I don't imagine organisations are overly keen to be teaching ChatGPT for other's benefit.

https://www.pcmag.com/news/samsung-b...oprietary-code

Presumably then if Samsung wanted to use AI then they'd need to build and train their own, which could lead to contract\permie roles opportunities. And if this approach was massively widespread then there ought to be many more roles, but there aren't going by what is said on here. Maybe it's too early in its adoption.

[SchumiStars]

AI (chatgpt, copiolet) is being used day to day work at my client working in energy trading.
defence is already using it to identify and track flying drones. Big FMCG’s (unilever and like) are using it for better procurement and distribution and predicting demand/supply issues. This is main reason for lower waste (no more yellow sticker items post xmas)

I highly doubt it. As said above, accountability.

Someone in energy trading, makes a trade based on AI and it's incorrect, his manager or director asks, why and the response was 'AI told me.' It will not go down well.

You think Defense relies on AI for drones?

AI, artificial intelligence. The clue is in the name. Artificial.

When AI becomes good enough to predict sporting outcomes and gets banned by bookies, I will invest time and effort into it, until then, it's probably better than just using Google.

[SussexSeagull]

Presumably then if Samsung wanted to use AI then they'd need to build and train their own, which could lead to contract\permie roles opportunities. And if this approach was massively widespread then there ought to be many more roles, but there aren't going by what is said on here. Maybe it's too early in its adoption.

I think you are right but some are getting a bit carried away thinking they just need to fire up ChatGPT and get rid of their Software Development department.

Certainly I had a conversation, which didn't go anywhere but presumably someone at some stage will do it, about a local authority trying to save money by using AI to reduce costs when dealing with enquiries, which would have involved testing on multiple devices. In other words where tech meets human, as it always was.