Baidu's CEO, Robin Li, believes that the AI sector is on the verge of a significant market correction, similar to the dot-com bubble of the late 1990s. Speaking at the Future of Business conference hosted by Harvard Business Review, he expressed his opinion that maybe only one percent of the current AI firms will endure and provide genuine value to society.
The Rapid Rise of AI
Recently, the AI industry has been experiencing explosive growth. Nvidia's market capitalization soared from $300 billion to an astonishing $3.4 trillion within a mere two years. Major players like Google, Microsoft, and Apple are heavily investing in AI initiatives, pouring vast sums into these projects. Chip manufacturers such as AMD and Intel have also revamped their server-grade products to cater to the demands of AI computing.
AI's Journey Towards Accuracy
Li highlighted the remarkable progress AI has made, particularly in addressing its previous inaccuracies. "I think over the past 18 months, that problem has pretty much been solved—meaning when you talk to a frontier model-based chatbot, you can basically trust the answer," Li remarked during the conference.
A Cautious Outlook on the Future
Despite the current excitement surrounding AI, Li cautioned that this trend is likely to lead to a bubble. He believes the industry must streamline itself, cutting out products that fail to meet customer needs. However, he is not overly concerned about AI significantly displacing jobs in the near future. Li estimates that it could take anywhere from 10 to 30 years before we see substantial changes in the workplace due to AI advancements.
TomsHardware (in English) via Baidu (in English)
