A more interesting “bear case” for AI is that, if you look at the list of industries that leading AIs like GPT-4 are capable of disrupting—and therefore making money off of—the list is lackluster from a return-on-investment perspective, because the industries themselves are not very lucrative. What are AIs of the GPT-4 generation best at? It’s things like:
writing essays or short fictions
digital art
chatting
programming assistance
Why? Why can an AI not replace a CEO? And why has CEO compensation risen, while average worker compensation dropped, all while worker output has increased over the past decades? That seems like simple math, that the money isn’t going to who it should be going to and is just going to management and investors because they make the rules
The issue you’re speaking about is an issue of oligopoles and giant businesses, not ceos and management. It’s a breakdown of economic principles, namely, supply and demand of labor, due to oligopoles.