AI boom or bubble? Timing is everything
The Office for National Statistics said information and communications added almost half of 0.4% UK growth as computer hardware investment jumped.
- On Thursday, Britain's economy showed signs of benefiting from the global artificial intelligence boom, with data revealing rapid growth in related industries and a surge in computer hardware investment.
- Prime Minister Andy Burnham has prioritized artificial intelligence as a Cabinet-level priority since July, shifting toward 'tech sovereignty' and British ownership after the previous government's approach.
- Output from British computing, electronic, and optical manufacturers grew 10.7% in the second quarter, while spending on plant and machinery surged to $29.8 billion this year.
- Apollo Global Management economist Torsten Slok warns the artificial intelligence math does not add up, arguing that current profits are driven by investors rather than customers.
- Timing is critical in deciding if the boom endures or ends in tears, said Max Gokhman of Franklin Templeton, as the market navigates between innovation and 'irrational exuberance.
15 Articles
15 Articles
Artificial intelligence is developing into a juicy bubble in the investment markets because that's how we humans operate.
AI boom is starting to show in UK economy’s performance
Britain’s economy is showing the clearest signs yet that it is benefitting from the global artificial intelligence boom, with data on Thursday showing rapid growth in related industries and a surge in computer hardware investment.
Channel News Asia
AI boom is starting to show in UK economy's performance
MANCHESTER, England, Aug 13 : Britain's economy is showing the clearest signs yet that it is benefitting from the global artificial intelligence boom, with data on Thursday showing rapid growth in related industries and a surge in computer hardware investment.While the Office for National Statistics said Brit
Experts warn of the risks of an artificial intelligence bubble while billions continue to be invested in the sector
US bank stocks are set to outperform the broad index for the third year in a row, Bloomberg reports. According to analysts, banks are benefiting from increased investment in AI – but are also expected to beat the market if the AI boom cools.
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