The CEO of open-source AI Company, Stability AI, is of the opinion that artificial intelligence will be the biggest bubble of all time.
Stability AI CEO Emad Mostaque expressed, “I think this will be the biggest bubble of all time. AI is still in the very early stages and not ready for mass-scale adoption in industries like banking just yet. I call it the dot AI bubble, and it hasn’t even started yet.”
Stability AI is the firm behind Stable Diffusion, a popular generative AI tool other than OpenAI.
Stable Diffusion allows users to get photo-realistic images by text prompts. It has million plus users and has raised more than $100 million from investors like Coatue and Lightspeed Venture Partners.
AI technology now has become a common feature of online browsing, home assistants, and social media platforms. Besides consumer applications, AI is being used in medicine, robotics, transportation, education, science, defense, finance, and almost every industry.
However, a more notable form of AI is generative AI, which is used in popular chatbots and image generators.
Mostaque said, “The total amount of investment needed in AI was likely to be $1 trillion because it’s more important than 5G as infrastructure for knowledge. Banks like UBS would have to adopt the technology as it is a massive market.”
He added, “It is in the early stages of development right now. It’s not quite ready to be deployed at scale within large industries like financial services, but we can see the value. The stock market will punish companies that do not use AI appropriately in their businesses.”
Stability AI CEO concluded, “AI will be one of the biggest investment themes over the next few years.”