Also, the memo again illustrates the ignorance that AI guys have of other industries. For example, commercial insurance renewals don’t function on inertia, that market is efficient with everyone struggling to shave off as much cost as they can. Polices are constantly shopped and re-shopped already.
The idea that consumers will move - en masse by 2028 - to AI-powered providers is also absurd. This may be true *in Silicon Valley*, but Joe and Karen Boomer aren't going to "give AI Realtor a whirl" when it's time to sell their lifelong home.
Yep, some will try, but I see AI as an efficiency increaser by and large. I don’t see it ever being to properly gauge things like honesty and reliability. So much of business is about feel and trust. Will AI realtor be licensed and insured, could you sue it if it zoned out and destroyed your sale?
Also, the memo again illustrates the ignorance that AI guys have of other industries. For example, commercial insurance renewals don’t function on inertia, that market is efficient with everyone struggling to shave off as much cost as they can. Polices are constantly shopped and re-shopped already.
The idea that consumers will move - en masse by 2028 - to AI-powered providers is also absurd. This may be true *in Silicon Valley*, but Joe and Karen Boomer aren't going to "give AI Realtor a whirl" when it's time to sell their lifelong home.
Yep, some will try, but I see AI as an efficiency increaser by and large. I don’t see it ever being to properly gauge things like honesty and reliability. So much of business is about feel and trust. Will AI realtor be licensed and insured, could you sue it if it zoned out and destroyed your sale?
Some of these market swings make no sense at all. Does 15% of IBM's revenue really come from COBOL?
Why is Instacart up 2% but Doordash down 8%?