Correction, LLMs being used to automate shit doesn't generate any value. The underlying AI technology is generating tons of value.

AlphaFold 2 has advanced biochemistry research in protein folding by multiple decades in just a couple years, taking us from 150,000 known protein structures to 200 Million in a year.

LLMs in non-specialized application areas basically reproduce search. In specialized fields, most do the work that automation, data analytics, pattern recognition, purpose built algorithms and brute force did before. And yet the companies charge nx the amount for what is essentially these very conventional approaches, plus statistics. Not surprising at all. Just in awe of how come the parallels to snake oil weren't immediately obvious.

Very bold move, in a tech climate in which CEOs declare generative AI to be the answer to everything, and in which shareholders expect line to go up faster…

I half expect to next read an article about his ouster.

Is he saying it's just LLMs that are generating no value?

I wish reporters could be more specific with their terminology. They just add to the confusion.

Edit: he's talking about generative AI, of which LLMs are a subset.

That is not at all what he said. He said that creating some arbitrary benchmark on the level or quality of the AI, (e.g.: as it's as smarter than a 5th grader or as intelligent as an adult) is meaningless. That the real measure is if there is value created and out out into the real world. He also mentions that global growth is up by 10%. He doesn't provide data that correlates the grow with the use of AI and I doubt that such data exists yet. Let's not just twist what he said to be "Microsoft CEO says AI provides no value" when that is not what he said.

That's because they want to use AI in a server scenario where clients login. That translated to American English and spoken with honesty means that they are spying on you. Anything you do on your computer is subject to automatic spying. Like you could be totally under the radar, but as soon as you say the magic words together bam!...I'd love a sling thong for my wife...bam! Here's 20 ads, just click to purchase since they already stole your wife's boob size and body measurements and preferred lingerie styles. And if you're on McMaster... Hmm I need a 1/2 pipe and a cap...Better get two caps in case you cross thread on.....ding dong! FBI! We know you're in there! Come out with your hands up!

He probably saw that softbank and masayoshi son were heavily investing in it and figured it was dead.

Well duh

R&D is always a money sink