Bank of England warns of AI bubble risk
https://www.bbc.co.uk/news/articles/cx2e0y3913jo
Posted by eldomtom2
Bank of England warns of AI bubble risk
https://www.bbc.co.uk/news/articles/cx2e0y3913jo
Posted by eldomtom2
13 Comments
It’s this year’s Blockchain, what could possibly go wrong
Its a matter of when the bubble will burst , not if the bubble will burst.
The firms involved are all burning money like crazy and just dont have the revenues to support that.
Should prolly do the warning before the ship has sailed ya silly sawsage
All aboard for the 5 yearly ‘once in a lifetime’ financial crash!
The fact we are having places like BoE warn of this means it’s probably a lot more likely than we think to happen.
The dotcom bubble was entirely justified in retrospect. Yes some companies were hugely overvalued, but the entire economy pivotted to the online world. AI could be even bigger. The big difference this time is that most of the big players are already big players. The (now) big tech companies mainly came from nowhere in 2000. A few established ones like Microsoft were still young enough to transform.
This bubble nonsense again, we had the .com bubble in early 2000’s but in 2010 if you didn’t have a website you went out of business, all of the shops closed down shortly after because everyone bought online, there was no bubble
no doubt they’ll just bail everyfucker out again and impliment more austerity measures until we have no functioning welfare state and can finally surrender to our american overlords.
Warns who exactly? 99.9% of us have absolutely no say in what these trillion dollar megacorporation and hedge funds do with themselves. Clearly there will be a market correction but the 1% will keep playing ‘hot potato’ and cause global financial issues that everyone will suffer the consequences of.
I guess…it’s a warning in the sense of “hey get ready for a financial crash, make sure you have lots of savings ready during this cost of living crisis we are still in from the last crash!”.
Nvidia is probably still safer than Tesla. No idea why that share price is so high when they’re losing market share in China to Chinese EV manufacturers and European sales are dropping because people don’t like Elon Musk.
And some of the cars look really dated now.
I work in a large international organisation. It is restructuring around AI. The AI does not work very well. It’s very amusing insofar as I have little personally invested in the job. I can cross examine it and point out where it’s contradicted itself. It used to admit to it cheerfully but recently it’s started telling me I am asking sharp questions. But my younger colleagues 🙁
Well most are selling their crypto before it’s taxed, then the miners have spare capacity to turn to data centres, so not soon .
My forecast: A lot of people on short will lose money. Pumping bubble burst news won’t work.
The competition will adopt AI.