TECH NEWS – Robin Li, CEO of Baidu, believes that we will see a similar situation with AI to the “dot-com bubble” of a few decades ago…

This is not the first time that the dangers of the artificial intelligence (AI) market have been warned. A few weeks ago, an expert predicted that this technology sector was in a very different state from reality. Because the numbers we are seeing today do not reflect reality. In fact, NVIDIA’s $279 billion collapse in just 24 hours may have been a small taste of what the “artificial intelligence bubble” means.

In the wake of situations like this, more and more experts are examining the chances of the artificial intelligence bubble bursting.

Most recently, as TechSpot pointed out in a recent article, Robin Li, CEO of Baidu, claimed that 99% of AI companies will not survive the bubble bursting. To reinforce his point, he compared the current situation to what happened with the dot-com bubble in the late 1990s and early 2000s.

Li believes the AI ​​market is unsustainable

The rise of models like ChatGPT has made generative AI one of the hottest topics in tech news. Giants like Microsoft, Apple, and Google are incorporating AI into almost all of their future products. At the same time, many startups are making ambitious claims about what AI can do, but Li believes that many of these innovations will turn out to be false.

He believes that the AI ​​market in 2024 will not produce as many loud results as in 2023. However, he believes that less “noise” is good for the industry. He also cites the fact that consumer enthusiasm is subdued. Some studies suggest that people do not buy hardware for AI technology; it is simply that almost everything is equipped with it these days. Finally, according to Li, artificial intelligence will likely replace human jobs. Therefore, he expects that we will see a paradigm shift in the labour sector in the next 10 to 30 years. And there will be both winners and losers.

Source: TechSpot