Khaberni - Amazon's chairman and one of the world's richest, Jeff Bezos, views spending on artificial intelligence as an industrial bubble that bears more fruits than mere financial investments, asserting that these investments may be lost but will make society better off, according to a Bloomberg report.
Investors currently do not distinguish between good and bad ideas in the realm of artificial intelligence, due to the excitement surrounding AI technologies, as Jeff Bezos views it, adding that investors face great difficulty in distinguishing between good and bad ideas.
Bezos compares the artificial intelligence investment bubble to what happened in the early 1990s, when all companies aimed to invest in biotechnology and subsequently failed to deliver effective products, leading to the bankruptcy of both companies and investors.
However, this bankruptcy led to the emergence of a group of pharmaceutical products that changed human life for the better and continue to affect it to this day. Bezos adds that this also happened with the dot-com bubble at the end of the last century.
The report indicates that investments in the artificial intelligence sector have reached an unprecedented level, where investment funds are pumping their money before the company reaches a final product or even builds the basic infrastructure for it.
Because of this, "OpenAI," which some see as the cause of the current artificial intelligence revolution, has become the most valuable private company in the world, with a value exceeding 500 billion dollars.
Some investors differ with Bezos in their vision for investing in artificial intelligence, among them the chief investment officer at "GIC Pte," who affirmed that artificial intelligence is experiencing a bubble of anticipation that may soon burst.
Bezos adds, saying: "When things calm down and the winners emerge, society will benefit from their inventions; the benefits of artificial intelligence to society will be immense."
