A.I. is a $1 trillion investment opportunity but will be biggest bubble of all time, CEO predicts
Summary
Emad Mostaque, founder and CEO of Stability AI, speaks during the Bloomberg Technology Summit in San Francisco, California, US, on Thursday, June 22, 2023. Speaking with UBS analysts on a call last week, Stability AI CEO Emad Mostaque said of artificial intelligence: "I think this will be the biggest bubble of all time." Generative AI has captivated the imagination of many an academic, boardroom executive, and even school student, for its ability to produce humanlike language and visual content from scratch in response to user prompts by using vast amounts of data. Mostaque said that the total amount of investment needed in AI was likely to be $1 trillion "because its more important than 5G as infrastructure for knowledge," and suggested banks like UBS would have to adopt the technology as it is a "massive market." He cited the example of Google , which lost $100 billion in a single day after its Bard AI chatbot gave inaccurate information in a promotional video upon its release.