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AI boom could falter without wider adoption, Microsoft chief Satya Nadella warns (www.irishtimes.com)
submitted 9 months ago by to c/technology@lemmy.world
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Big tech boss tells delegates at Davos that broader global use is essential if technology is to deliver lasting growth

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[–] 5 points 9 months ago (5 children)

Unless someone bails them out.

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  • [–] 7 points 9 months ago (4 children)

    Who's going to do that? Everyone with any money is already leveraged up to the eyeballs in this shit.

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  • [–] 13 points 9 months ago (2 children)

    So you're saying they're too big to fail?

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  • [–] 5 points 9 months ago (1 child)

    Oh, we'll see about that.

    The key difference between tech giants and the banks, is the tech giants aren't holding everyone's money hostage.

    Sure, those gen Z kids will lose all their photos of grandma because they couldn't fathom a world without Instagram, but we'll cope.

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  • [–] 4 points 9 months ago

    No, but when the AI bubble bursts it will wipe out between roughly 40% and 60% of the value of the US’s stock market, depending on which estimate you go by. For comparison, the initial crash of 1929 saw the stock market losing around a third of its value.

    So either the government does bail them out, or it’ll be worse than that crash was.

    Neither option is good for the little people

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