"It is the season of overindulgence, and no one has overindulged like the tech industry: this year, it has burned through roughly $1.5 trillion in AI, a level of spending usually reserved for wartime. Between 2001 and 2014, the wars in Iraq and Afghanistan cost the US an estimated $1.5 trillion to $1.7 trillion in direct spending. Global AI spending, according to Gartner, is forecast to reach nearly $1.5 trillion this year, putting today's AI boom in the same cash-burning league as two major wars."
"So now with a belly full of corporate speak, banking executives who wouldn't know a server if it fell on their wingtips are vomiting "AI" and "agents" all over their press releases, so they can keep the gravy train running. Consider this recent bon mot from Larry Feinsmith, head of Global Tech Strategy, Innovation & Partnerships at JPMorgan Chase: "In the era of AI and agents, the benefits and value will be enormous, but so is the complexity.""
The tech industry has spent roughly $1.5 trillion on AI this year, an amount comparable to U.S. direct spending on the wars in Iraq and Afghanistan between 2001 and 2014. Global AI spending is forecast to reach nearly $1.5 trillion, equating the current AI boom with major wartime cash burn. Many investments lack a clear rationale or an identifiable timeline for returns, raising questions about perishable technology and ROI. Corporate communications are saturated with AI and agent buzzwords as firms pursue perceived value. Executive statements promise large future benefits while acknowledging significant complexity and uncertainty.
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