Bill Gates Says AI Market Fanaticism Exceeds Internet Bubble

TapTechNews July 5th news, Microsoft co-founder Bill Gates was a guest on the podcast program 'the Next Big Idea', saying that the fanaticism in the current AI market far exceeds that of the Internet bubble.

Gates believes that the entry threshold in the current AI field is very low, and the entire market is in a fanatical period. AI startups can relatively easily get hundreds of millions of US dollars in financing, and even someone raised 6 billion US dollars (TapTechNews note: currently about 43.734 billion Chinese yuan) in cash for a company.

Gates believes that the influx of so much capital into new fields is unprecedented. Whether from the perspective of market capitalization and valuation, the entire AI market has fallen into a 'fanatical' state, and the extent makes the fanaticism in the historical periods of the Internet and automobiles pale in comparison.

At present, the competition in the AI field is very intense, and there are constantly new players entering. After all, its proportion in the global economy is still very small. Gates said that although Microsoft certainly has a lot of capital, it does not really stop others from developing in basic capabilities or vertical fields.

Gates believes that although the share of artificial intelligence technology in the global economy is relatively small, it has great potential. Even small institutions can compete with large institutions with these tools and provide better services.