> However, if AI avoids plateauing long enough to become significantly more useful and independent of humans, this revolution is going to be very unlike the past ones. Yet the economic markets are reacting as if they were governed by stochastic parrots.

Aren't the markets massively puffed up by AI companies at the moment?

edit: for example, the S&P500's performance with and without the top 10 (which is almost totally tech companies) looks very different: https://i.imgur.com/IurjaaR.jpeg