Leading financial institutions are worried about a looming AI bubble
Both the International Monetary Fund (IMF) and the Bank of England are warning of an AI bubble that could burst sooner than later, citing soaring valuations and stock prices. Speaking at the Milken Institute in Washington DC, Kristalina Georgieva, managing director of the IMF, said that "uncertainty is the new normal and it is here to stay" and that we should all "buckle up." In discussing financial conditions, she said that "fired up by optimism about the productivity-enhancing potential of AI, global equity prices are surging."<br /> The Bank of England, for its part, has said that "the risk of a sharp market correction has increased," and that "equity market valuations appear stretched, particularly for technology companies focused on a [...]
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