Fallacies in the Economist, you say without irony?
From TFA:
> Yet investors risk misdiagnosing the industry’s troubles.
Oh, I think investors are asking, "where is the actual gain in capability and/or productivity?" Because they don't see it. And huge lay-offs don't prove it.
> Of course, AI will continue to improve.
This is begging the question. However, for the sake of argument, let's assume that AI continues to improve.
The thing we call AI is a long way from improving robotics. It's most prevalent practical value right now is improved search and code/text information assistance. But these improvements themselves have proven to be far from perfect.
The only monetisable path that we have seen in search and information assistance is advertising. The AI boom walks and quacks like a duck: a bubble, and a dawning generation of new facets of enshittification.