Chatbots are a waste of AI's real potential

Generative AI can do many things human beings can do. But that misses the point about how AI can truly benefit us.

- Gary Marcus

The biggest AI companies are racing to be the first to achieve “artificial general intelligence” (AGI): AI systems that exhibit the flexibility and resourcefulness of human experts with the speed and efficiency of digital computers — able to answer nearly any question or solve nearly any problem thrown its way. (Sort of like the starship computer in Star Trek.)

In recent years, many have believed that the key to getting there was to improve on generative AI (Gen AI) systems, such as ChatGPT. These systems create text, images, code and even videos by training on vast data sets of content produced by humans. They are broad in application yet accessible even to the most novice users of digital tools. Buoyed by the initial progress of chatbots, many thought that AGI was imminent.

But these systems have always been prone to hallucinations and errors. Those obstacles may be one reason Gen AI hasn't led to the skyrocketing in profits and productivity that many in the tech industry predicted. A recent study run by the Massachusetts Institute of Technology’s Nanda Initiative found that 95 per cent of companies that did AI pilot studies found little or no return on their investment. A recent financial analysis projects an estimated shortfall of US$800 billion (S$1.04 billion) in revenue for Al companies by the end of 2030.

If the strengths of Al are to truly be harnessed, the tech industry should stop focusing so heavily on these one-size-fits-all tools, and instead concentrate on narrow, specialised AI tools engineered for particular problems. Because, frankly, they’re often more effective.