Nokia CEO says AI investments won't slow down because it's a 'super cycle' with 'massive' prospects

""I think this is a secular growth trend for many years," Hotard said. "The reason I say that is if you look at what we are doing in AI today, we are largely using LLMs for language-based applications." "Autonomous vehicles are still in the early days of penetration. Augmented and virtual reality, smart glasses. Very low penetration. Robotics. Very low penetration. There's so many applications to come that I think we are very much in the early days," he continued."

""Yes, we had a bubble in the internet, but even if you look at that over a two, or three, or five-year period, you see that bubble burst, and then you see tremendous growth well above where the bubble was," he said. "It's hard for me to predict what exactly will happen in AI on a quarter or one-year basis, but I think the long-term prospects are massive," he added."

Justin Hotard became Nokia's president and CEO in April and previously led Intel's Data Center & AI Group. AI is characterized as being in the middle of a 'super cycle' and expected to be a secular growth trend for many years. Current AI deployment is largely focused on LLMs for language-based applications, while autonomous vehicles, augmented and virtual reality, smart glasses, and robotics remain at very low penetration. AI has created tremendous demand for network buildout. Short-term bubble comparisons exist, but long-term prospects are described as massive and difficult to predict on a quarterly basis.

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