Despite its expensive price tag, the technology is nowhere near where it needs to be in order to be useful. Overbuilding things the world doesn't have use for, or is not ready for, typically ends badly.
In his paper, Covello predicted that companies will eventually cut their spending once they realize that expensive AI tools significantly cut into their profits. And he's not ruling out that a dot-com-style crash could be around the corner.
When you have a view that's sort of out on a limb, you live in this kind of constant state of paranoia that AI is going to be as big as everybody thinks it is.
While speculative frenzies are part of technology, and so they are not something to be afraid of, AI tech is anything but a stable investment at this moment.
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