"Cristiano Amon, the CEO of Qualcomm, said that when it comes to the question of an AI bubble, "everybody's playing to win," but it's still too early to predict exactly how it will play out in the long term. "It's hard right now to declare who the winners are," he told the audience at the Fortune Global Forum in Riyadh. "The opportunity is probably bigger than people think, but it's going to become a competitive environment very soon.""
"Comparing the AI boom to the dotcom era, Amon said that the internet is much bigger now than people ever dreamed 25 years ago. "Who we expected to be the winners in the early days-it changed. It happened at different places in different industries, but it was much bigger than people thought in 1990, and I feel it this way about AI," he said. "When you think about AI in the long term, it is going to be massive, and it's probably underestimated.""
"Amon called AI a "massive opportunity," but acknowledged there will be intense competition in the space. He said companies that "have invested in architectures that are able to compete and ... to deal with the efficiency that is going to be required are going to be very well positioned" for this competition. Fears that the AI industry might be in a bubble reminiscent of the dotcom era, when valuations surged far ahead of proven profitability, have been simmering over the past few months."
Cristiano Amon said it's too early to declare winners in the AI race and noted many players are "playing to win." He compared the AI boom to the dotcom era, observing that the internet became far larger than expected and predicting AI will be massive and likely underestimated. He described AI as a "massive opportunity" while warning of imminent intense competition. Companies that invested in competitive, efficient architectures will be well positioned. Growing concerns exist that soaring AI valuations may form a bubble as investment outpaces proven profitability.
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