Sundar Pichai, the head of Alphabet (Google's parent company), has said that giant investments in artificial intelligence (AI) could create a financial bubble — and if it bursts, not even Google will be saved.
He told the BBC that there is a lot of money being poured into AI very quickly, and not always logically. This, he said, is a situation similar to the dot-com bubble in the 1990s, when investment skyrocketed and then the market crashed.
However, Pichai believes that AI will be as important as the internet and that the technology is inevitable, even if some companies will lose money.
He also warned of another problem: artificial intelligence is consuming too much energy around the world, and this is slowing down the fulfillment of Google's climate goals.
Meanwhile, Alphabet is increasing investment in the UK, pledging £5 billion for AI research and infrastructure, and will train its models there as well.
Pichai said that AI will change many professions, but those who learn to use it will have more of an advantage in the future.
