As often happens in the early buildout of a new technology, a fierce argument is raging about whether the AI spending boom is a rational investment or a speculative bubble.
The answer, very likely, is… both.
AI will radically change the economy and society — just as the internet, computers, cars, trains, canals, electricity, and other technologies did.
And…
Much (most?) of the money being invested right now will probably be lost — just as much of the money invested early in the prior booms was.
The early AI boom will likely end the way most prior eras have ended — with a gigantic bust that clobbers the first wave of companies and investors…
Read the full article at BUSINESSINSIDER.COM
