The creators of artificial intelligence suggest it holds limitless potential to dramatically reshape—or possibly even threaten—the world.
However, as the industry sees an extraordinary influx of investment, growing numbers of experts in finance, business, and technology are questioning whether this burgeoning multitrillion-dollar field might be a colossal bubble. What are the consequences if it bursts?
Researchers have highlighted that OpenAI has evolved remarkably over a short span of less than three years, transitioning from a mere curiosity to a cornerstone of the global economy.
“After becoming a pillar, the concern is whether it might crumble into debris, and what steps to take to rebuild after the upheaval, considering the potential damage,” Sonnenfeld explains to 9news.com.au.
Bezos contends that even if an AI bubble were to burst, the boom could still have positive effects on the world, viewing it as an industrial phenomenon rather than a financial or banking one.
“Industrial bubbles aren’t nearly as harmful. In fact, once the dust settles and the victors emerge, society can benefit from those innovations,” Bezos remarked at a recent tech conference in Italy.
He compared it to a previous biotech bubble in the 1990s that resulted in new life-saving drugs.
“Every company gets funded, the good ideas and the bad ideas. And investors have a hard time in the middle of this excitement distinguishing between the good and bad ideas and so that’s also probably happening today,” he said.
Altman last month predicted people would “make some dumb capital allocations”, resulting in short-term ups and downs.
But he was confident it would drive “a new wave of unprecedented economic growth”, scientific breakthroughs, improvements to quality of life and “new ways to express creativity”.
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– Reported with Associated Press and Reuters
