Speaking to the press while visiting one of the OpenAI data centers, Altman answered a question about the possibility of an “investment bubble” in the field.
OpenAI CEO Sam Altman has warned of a financial collapse that could rock the AI industry.
Speaking to the press while touring one of the giant OpenAI data centers under construction in Abilene, Texas, Altman said, in response to a question about the possibility of an “investment bubble” in the sector, “We've been doing this for 10 years and we have decades ahead of us. There will be ups and downs and crashes along the way.”
“People will overinvest and lose money, underinvest and miss out on income opportunities. Sometimes, we will misallocate capital. But over the long term, we are confident that this technology will create an unprecedented wave of economic growth.”
SHARING IS AT A RECORD LEVEL
According to the Wall Street Journal, the biggest growth driver of the US economy in the past two quarters was not consumer spending but investment in artificial intelligence. According to Futurism, the share of artificial intelligence in capital spending has reached a record level.
For this reason, many economists warn that “If the artificial intelligence bubble bursts, it could shake the entire global economy.” In fact, most giant artificial intelligence companies that have attracted billions of dollars in investments have yet to come up with a business model that can generate profits.
Altman has made these disaster scenarios seem almost routine. He has said many times in the past that “we are in an artificial intelligence bubble.” “Bubbles often form around a small fact. Smart people get too excited about that fact. Are investors right now too excited about AI in general? I think so,” he told The Verge in August.
WHY IS ALTMAN COMFORTABLE?
Altman has warned for years that artificial intelligence could eliminate businesses, cripple society with misinformation and even lead to a “Terminator scenario” that would destroy humanity.
But such dark predictions are also a promotion of OpenAI's technology. The reason Altman seems so relaxed is that perhaps he believes that even if disaster strikes, OpenAI will still be the winner.
He summarized this situation in his statement in August as follows:
“Someone will lose a huge amount of money, but we don't know who will lose.”
