“AI sceptics” who work on policy and education continue to overestimate the utility of LLMs—portraying it as a potential revolution even as they warn against overhype—simply because they can’t see that generating seemingly coherent text has very little economic value
LLMs are not automation. That would have economic value. The generated text artefacts look coherent and we, as a society, don’t even value the coherent kind. We underpay most forms of writing. Even code has no inherent value (see open source) outside of the associated integration and expertise
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