There’s a huge divide between how the world’s AI leaders view the transformative technology. Some foresee a huge jobs boom and a new era of economic activity. Others see the end of humanity.
Ray Dalio, famed investor and founder of Bridgewater Associates, says both optimists and pessimists are correct. He believes the technology will produce unprecedented productivity benefits, but also further entrench wealth inequalities—as well as driving a massive stock market bubble.
“There’s a process in which great new technologies are something that everybody wants to invest in because they’re going to change the world, and then they over-invest in them, and they create debt, and they go through a certain dynamic, in a sense, that creates a bubble, that creates a bust,” Dalio said in a new video for the World Economic Forum.
“So simultaneously it is going to be one of the biggest productivity-enhancing, changing-the-world forces, and also a bubble that is going to have devastating effects on many people as it works itself through this.”
