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We are experimenting and learning and inventing. Every modern AI is a brand new prototype, mass released to the public only because of how interesting and useful they are despite their newness.
Nearly every new invention is massively overpriced compared to its long term potential unless the "invention" is a refinement of an old invention optimized specifically for its affordability. Cars used to be crazy expensive luxury goods, now they're expensive but affordable staples of modern life, much cheaper than trying to walk across the country on the Oregon Trail. The literal first refrigerator was vastly expensive as the inventor prototyped it out without a factory to stamp them out, now everyone has one. The first GPT-4 quality LLM was vastly more expensive to design than GPT-4 quality LLMs will be 10 years from now. We have no idea where AI intelligence will plateau, and we have no idea what cost it will asymptote towards over the next few decades as people discover more and more efficient methods and technologies. Current quality is merely a lower bound, and current costs are an upper bound, not the true long term potential, and probably not anywhere close.
The answer to every (non-safety) criticism of AI is that we're not there yet. But we're getting somewhere.
Compared to where we were ten years ago, it looks like AGI is achievable now. It seems before we didn't even have an architecture that you could spend infinite compute on that would ever arrive at an answer. But now it seems like we do! It's clear that you can get them to do reasoning-like things and it's mainly a matter of how much compute you can throw at it. So that's amazing.
But the question that remains, is will this architecture get to AGI within economic feasibility? It doesn't quite seem like the right architecture. They use much, much more power than humans do to solve the same problems, for example.
If we have to continually 10x the amount of inference compute we throw at a model to cut the error rate in half, we might exhaust the capacity of the Earth before we reach AGI.
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