Bharti Enterprises Founder and Chairman Sunil Bharti Mittal has compared the ongoing artificial intelligence (AI) boom to the dot-com bubble of 2001-02, warning that several neo-cloud companies and intermediaries may not survive the next 24-36 months, or possibly even sooner.
\n\nResponding to a question from CNBC-TV18 Managing Editor Shereen Bhan on whether the massive investments in AI could lead to a bubble and a possible market correction, Mittal said the technology itself was here to stay, even as several companies could fall by the wayside.
\n\n"One thing is very clear: intelligence is here for good. So that is without a doubt. I mean, it’s the same 2001–2002 dot-com bubble. Internet was there to stay; internet was not going anywhere. But the companies started to pack up," Mittal said.
\n\n"I think you will see a similar position in AI. There will be a lot of companies which have come on the froth or the big tide of AI—intermediary companies, the cloud computing companies, and all that, the neo-clouds as they are called. I think many of them will not exist in a 24-to-36-months scenario, maybe even shorter, depending on if the interest rates go up, if the stock market tide sort…
Original source: https://www.cnbctv18.com/technology/
