At the Tech Week in Turin, the patron of Amazon spoke of artificial intelligence and space development
“Ai is a sort of industrial bubble,” he said Jeff Bezos at the Tech Week in progress in Turin. On stage, during a blow and response with John Elkann, the founder of Amazon addressed the theme ofartificial intelligencedefining it in no uncertain terms a “bubble” destined to burst. Concept that, in its way of seeing, should not necessarily be understood in a negative sense, because the technology underlying artificial intelligence is still solid and intended to profoundly transform the company.
What is an industrial bubble for Bezos
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Jeff Bezos has no doubts about it: the artificial intelligence industry is overheated and fueled by excessive enthusiasm. The entrepreneur explained that the bubbles occur when the prices and assessments of the companies are inflated with respect to the economic fundamentals. In the frenzy of the novelty, says Bezos, investors end up financing every project indiscriminately. “Good ideas and bad ideas. And investors have difficulties, among all this enthusiasm, to distinguish from each other. That’s probably what is happening today. But he added: “This does not mean that what is happening is not real. AI is real and will change every sector“.
Bezos, the euphoria for the
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The current high-tech market is studded with tiny startups that manage to gather in a short time billions of dollars of investments. This would already be enough to launch the alarm. In recent weeks the CEO of Openai, Sam Altmanwarned on the risks connected with the historical moment. And of the same opinion it is David Solomonnumber one by Goldman Sachs, who said in Turin: “When investors are excited, they tend to think only of what can be fine and underestimate what can go wrong… there will be a reset, a correction, there will be a drawdown “, that is, one Significant correction or remodeling phase of prices compared to what has been seen so far. They were added to them Karim MoussalemChief Investment Officer of Selwood Asset Management, according to which the “trade on AI” has now taken on the connotations of all the other “speculative manias of the history of the markets”.
What will remain of the AI bubble?
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If on the one hand it is undeniable that the outbreak of a bubble has repercussions on real economy and capital, on the other it offers interesting long -term implications. Bezos did The example of biotechnology and pharmaceuticals In the 90s: many companies disappeared, but remained life -saving drugs who have changed medicine forever. “The industrial bubbles are not necessarily so negative,” he explained. “They can even be positive, because when the dust sedates and you see who the winners are, The companies benefit from those inventions“He said. His forecast is therefore overall optimistic:” This is what will happen here too. It is real, the benefits for society from artificial intelligence will be gigantic, “he said.
Jeff Bezos, the space race
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One day, added Jeff Bezos, the large calculation centers necessary for the AI could leave the planet. “One of the things that will happen in the next – it is difficult to know exactly when, more than 10 years and I bet no more than 20 years – is that we will start building these gigantic date-centers from Gigawatt In space, “he said. Why so far? Why do you enjoy unlimited and continuous access to solar energy in orbit, free from the whims of the weather:” These gigantic training clusters will be better to build them in space, because there we have solar energy 24 hours a day, 7 days out of 7. There are no clouds, nor rain “. The costs of these systems? Lower than the terrestrial ones. “We have already seen with the meteorological satellites and with the communications satellites,” he said. “The next step will be the data-centers and then other types of manufacture”.
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