The idea that the whole AI thing is a bubble fit for bursting isn't novel. But when a US senator thinks a bubble is obviously what it is, well, that's particularly worrying.
"I know a bubble when I see one," said veteran senator Elizabeth Warren to the Vanderbilt Policy Accelerator event in Washington (via The Verge). Warren's central critique is that the revenues from AI services aren't keeping up with the huge investments required to provide them.
“If AI companies are unable to increase revenues with lightning speed, they won’t be able to service their massive debt loads,” Warren said. “And because of shady accounting strategies, the first big stumble will have everyone running for the exits, potentially triggering destabilizing losses in the financial sector and another 2008-style financia...
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