Now, the dominant compute-hungry workload is AI, where precision takes second place to the independent parameter count. To the point that the capacity of BF16, which were originally designed as a radical optimization for AI workloads, is sometimes considered wasteful now.
AI workloads have some truly peculiar and counterintuitive properties - the kind of things you might expect to see in biology instead of conventional computing. Intrinsic error tolerance, for one. It did necessitate some rethinking and reprioritization, and I'm not quite sure if we converged to the general shape of an "optimal" AI accelerator as of yet.