this post was submitted on 16 Jun 2024
136 points (100.0% liked)
Technology
37712 readers
171 users here now
A nice place to discuss rumors, happenings, innovations, and challenges in the technology sphere. We also welcome discussions on the intersections of technology and society. If it’s technological news or discussion of technology, it probably belongs here.
Remember the overriding ethos on Beehaw: Be(e) Nice. Each user you encounter here is a person, and should be treated with kindness (even if they’re wrong, or use a Linux distro you don’t like). Personal attacks will not be tolerated.
Subcommunities on Beehaw:
This community's icon was made by Aaron Schneider, under the CC-BY-NC-SA 4.0 license.
founded 2 years ago
MODERATORS
you are viewing a single comment's thread
view the rest of the comments
view the rest of the comments
Replacing a human with any form of tech has been a long standing practice. Usually in this scenario the profitability or the efficiency takes a known pattern. Unfortunately what you said is the exact way the market always operated in the past, and will be operating in the future.
The general pattern is a new tech is invented or a new opportunity is identified, then a bunch of companies get into the market as competing entities. They offer competing prices to customers in an attempt to gain market dominance.
But the problem starts when low profit drives some companies to a situation where either they have to go bust or dissolve the wing, or sell the company to a competitor. Usually after this point a dominant company will emerge in a market segment. Then the monopolies are created. After this point companies either increase the price or exploit customers to get more money, and thereby start making profits. This has been the exact pattern in tech industries for several decades.
In the case of AI also, this is why companies are racing to capture market dominance. Early adopters always get a small advantage and help them get prominence in the segment.