The credit rating firm Egan-Jones hears all the serious talk about an AI murder spree apocalypse and raises a mundane, financial one.
In a commentary bluntly titled “It’s Over,” the firm proclaimed that AI is about to obliterate the collective hyperstition and capitalist long con commonly known as “the economy.”
“AI has advanced so far that the complete disruption of the economy is all but certain, and firms that sell expertise by the hour, senior talent included, are first in line,” its summary reads. “Expected compressed margins in professional services, lower returns to venture capital and short-term pressure on home prices as screen-based jobs are disrupted.”
AI’s supposed existential risks are the talk of the town right now. The industry’s leaders, including Elon Musk, Dario Amodei, and Mark Zuckerberg, recently went to the White House to sign what was effectively a pinky promise to self-regulate and not build models that would destroy the world.
