Technology

Will AI be a bust? A Wall Street sceptic rings the alarm

Jim Covello, Goldman Sachs’ head of stock research, warns that building too much of what the world doesn’t need “typically ends badly”.

Copy link Copied Copy link Copied Subscribe to gift this article Gift 5 articles to anyone you choose each month when you subscribe. Already a subscriber? Login As Jim Covello’s car barrelled up Highway 101 from San Jose to San Francisco this month, he counted the billboards about artificial intelligence. The nearly 40 signs he passed, including one that promoted something called Writer Enterprise AI and another for Speech AI, were fresh evidence, he thought, of an economic bubble.

“Not that long ago, they were all crypto,” Covello says of the billboards. “And now they’re all AI.” Copy link Copied Copy link Copied Subscribe to gift this article Gift 5 articles to anyone you choose each month when you subscribe.

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