It could get really smart but I'm confident in my thesis that surplus intelligence beyond a certain level doesn't yield any real economic benefits.

At scale, I can see a benefit in terms of being able to process large amounts of data intelligently to gain a competitive advantage in terms of accruing nominal gains but I think that as long as AI is pursuing dollars, those gains won't translate to real value to the people who control the AI. At best, will translate to more political control; but with added risks and threats too. I suspect it will look more like controlled decline with a small number of entities getting an increasingly large slice of a rapidly shrinking pie.

I think AI may just figure out really complex ways to legally steal people's money. It will probably look all legit on the surface, it will look like the majority of people are just freakishly unlucky and a tiny number of elites are just extremely lucky... But it will be AI behind the scenes orchestrating seemingly random events; choosing who gets lucky and who doesn't.

Might end up literally like a game of monopoly. One player could dominate the game and start receiving all the money but, if you look at the big picture, none of the players are doing anything economically useful; just sitting around a board and moving pieces of paper amongst each other.

It's like the industrial revolution. Many kings and emperors did not like the idea of industrialization because they were already living a luxurious life and understood that it would not benefit them and would only create risks and problems for them personally. They could already afford as many human servants than they needed, what was the point of replacing them with machines to provide the same service they already received? It would give their servants more free time? To an emperor, that would have sounded more like a problem than a solution. It's a bit like that with AI. The people who control AI won't benefit from it beyond what they already have. If it doesn't serve a social cause then it serves nobody.

I don't think insulting people is a great way to contribute. Not everyone who sees things differently than you has "psychosis".

Your reflexively negative comments on anything relating to AI are as insight-free as they are numerous; it's all just vague shitting-on without even a hook or argument that could be engaged with and debated. It's pretty tiring, honestly. If you really think your point of view is valuable and others should pay attention to it, rather than just filtering it out like the trollish noise it usually is, why don't you put a little more effort in?

Its the closest terminology we have to describe that process.

https://github.com/cobusgreyling/loop-engineering

Its hard to come up with new names for novel processes, you mostly reuse what is close enough and well known.