I wrote that part from memory and meant the current state-of-the-art architecture, which most of the models are based on now, instead of the whole field. It is actually a bit older than that. AI as academic discipline was established in 1956, so it is about 70 years old. Though you would not consider much of it useful relating to independently making discoveries. I should have read up on it beforehand. Sorry for that and thanks for pointing out.

Yes, I meant the current state-of-the-art architecture by the term “AI” and partly the boom thereafter. The field “AI” is obviously much older. Sorry for that and thanks for pointing it out.

Yes it does not work right!

I agree.

also there are no new discoveries made by AI, we only see chat bots, self driving cars, automation in workplace, yet no discoveries. At some point I thought AI will help us solve cancer or way to travel in space, yet billionaires think of money.

We aren’t there yet. AI and research around it started, or rather really took off, around 2018 (at least relating to what we mean by AI today; ruled based approaches existed much longer). It is very much a new field, considering most other fields existed for over 30 years at this point. Transformers, the current architecture of most models and what we consider when we speak of “AI”, started with a paper in 2017. It is very much new ground, considering the fundamentals behind it are much older. And well, to be pedantic, large language models aren’t really AI because there is no intelligence. They are just generating output that is the most probable continuation of the input and context provided. So yeah, “AI” cannot really research or make new discoveries yet. There may very well be a time, where AI helps us solve cancer. It definitely isn’t today nor tomorrow.

I also don’t think that billionaries make money with AI. I mean, if you look at OpenAI: they are actually burning money, at a fast rate measured in billions. They are believed to turn a profit in 2030. Without others investing in it, they would be long gone already. The people with money believe that OpenAI and other companies related to AI will someday make the world changing discovery. That could very well lead to AI making discoveries on its own AND to lots of money. Until then, they are obviously willing to burn a tremendous amount of money and that is keeping OpenAI in particular alive at this moment. Only time will tell what happens next. I keep my popcorn ready, once the bubble bursts :D

Edit: Connected AI making discoveries to lots of money gained or rather saved. That is the sole reason for investments from people with big money.
Edit 2: Clarified what I meant exactly by AI. Thanks everyone for pointing it out.