Doctorow's 36th Book Targets AI's $852 Billion Hype Machine as 95% of Pilots Fail
Updated
Updated · The Guardian · Jun 22
Doctorow's 36th Book Targets AI's $852 Billion Hype Machine as 95% of Pilots Fail
3 articles · Updated · The Guardian · Jun 22
Summary
Cory Doctorow’s new book argues AI is reviled less for the technology itself than for a rollout driven by investor hype, labor replacement and public indifference.
The book’s “reverse centaur” idea says AI could augment workers, but current business incentives instead use it to deskill them—like turning radiologists into cheaper error-checkers.
Doctorow ties that model to tech valuations: OpenAI is cited at $852 billion, while Morgan Stanley projects AI could add nearly $1 trillion a year to the S&P 500.
He says consumers are being used as proof points for Wall Street even as backlash grows; studies found 90% are less likely to buy AI-marketed products and 95% of generative AI pilots fail.
That gap between weak public support and huge market exposure matters because seven big tech firms make up about one-third of U.S. stock market value, raising bubble-risk concerns.