Bert Taylor, Chairman of the Openai Board and CEO of Sierra Artificial Intelligence, said in an interview with The Verge that artificial intelligence is in a large bubble today. However, according to him, this situation should not cause concerns for users or investors.
Great opportunities and real risks
Taylor, OpenAI CEO Sam Altman, explained that artificial intelligence can both transform the world economy at the same time and bring serious financial risk for some individuals and companies:
“Artificial intelligence will create a great economic value, but we are now in a bubble and many people may lose a lot of money. “Both are correct and the history has many examples.”
According to Taylor, the situation is very similar to the experience of the Internet bubble or Dotcom in the late 1980s, when many companies failed but their activities created significant economic value and experience for the future.
Comparison with Dotcom’s bubble
Taylor explained to the Dotcom Bubble:
“Many companies failed after the bubble burst, but everyone was right at that time and real opportunities were created.”
He believes that the current state of artificial intelligence is exactly similar to that period: the market and investments are exciting and risky, but real economic innovation and growth are ongoing at the same time.
A positive look at the future
The chairman of the board of Openai said:
“Despite the bubbles and risks, the potential impact of artificial intelligence on human economics and life cannot be ignored. “This technology can create great value and bring job opportunities and great innovations.”
He also emphasized that investors and artificial intelligence activists should enter the market cleverly and with full awareness, as there is both failure and great success, as we have seen in Dotcom’s experience.
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