This is the weirdest technology market that I’ve seen. Researchers are getting rewarded with VC money to try what remains a science experiment. That used to be a bad word and now that gets rewarded with billions of dollars in valuation.
There are trillions of labor dollars that can be replaced by software. The US alone has almost $12 trillion of labor annually.
If an AI company has a 10% shot of developing a product that can replace 10% of it, they are worth $120 billion in expected value. (These numbers are obviously just for illustration).
The unprecedented numbers are a simple function of the unprecedented market size. Nobody has ever had a chance of creating trillions of dollars of economic value in a handful of years before.
that's not how profits work. Companies don't get paid for the value they create but for the value they can capture, otherwise the ffmpeg people would already be trillionaires.
If you have a dozen companies making the same general purpose technology, not product, your only hope is being able to slap ads on top of it, which is why they're so keen on targeting consumers rather than trying to automate jobs.