A number of recent humiliating fiascos have reinforced artificial intelligence’s growing image as the 21st century reincarnation of Tulip Mania.

In July, Elon Musk’s chatbot, Grok, was updated and promptly started spewing antisemitic and other toxic content.

Billionaire Scott Farquhar is arguing that writers, who earn an average $18,000 a year, should allow AI companies to use their work for free.Credit: Dominic Lorrimer

Earlier this month was the disastrous launch of OpenAI’s ChatGPT-5. OpenAI CEO Sam Altman had promised users that it would be like talking to “a PhD level expert in anything”, but within hours of the launch, epic fails started to flood in.

One user asked GPT-5 to generate a map of the United States with each state named, which is how we all learned about the great states of Aphadris, Wiscubsjia and Misfrani. It also had problems counting to 12, and referred to President Gearge Washingion. These kinds of inaccuracies are initially hilarious, until we realise we’re drowning in a sea of online misinformation and the joke’s on us.

Nevertheless, we’re repeatedly told that the AI spaceship is leaving for a brave new world, so we’d better get on board or risk being left behind. Unfortunately, the people steering the spaceship appear to have lost their moral compass. So where exactly we’re headed remains unclear.

Australia does not currently have AI-specific legislation. Chair of the Tech Council of Australia, Scott Farquhar,........

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