BY SRH
The artificial intelligence (AI) boom is being referred to as “the greatest bubble of all time” by Ed Dowd, a world-renowned Wall Street financial expert. Dowd is also warning that the collapse of this boom would bring about terrible economic chaos. According to Dowd, the bubble is on the verge of bursting, which will result in a painful market collapse of between forty and fifty percent. During the height of the dot-com bubble, the professional money manager and financial analyst at Phinance Technologies made a name for himself. During the time that the dot-com bubble was bursting, Dowd was advising investors to get out of the market before the technology-driven market mania collapsed. Now, Dowd claims that he is observing the same cautionary signs with regard to artificial intelligence.
However, he warns that the stakes are significantly higher this time around. Dowd continued by saying, “Learning about the past can provide you with a thought of where you might be going in the future.” The artificial intelligence bubble is possibly the largest bubble in the history of the world. The situation is getting to the point where it is going to be exposed, and people are starting to give warning signals. After that, everything begins to calm down. In a recent interview, Dowd included a reference to Lloyd Blankfein, a former CEO of Goldman Sachs who has also expressed concern regarding the enormous concentration of capital in artificial intelligence. The concerns, however, go much further than simply an excessive amount of investor enthusiasm, according to Dowd.
