How long can the AI boom continue at this pace?
LA TIMES
Officials at the Bank of England on Wednesday flagged the growing risk that tech stock prices pumped up by the AI boom could burst.
“The risk of a sharp market correction has increased,” the U.K. central bank said.
The head of the International Monetary Fund raised a similar alarm hours after the Bank of England’s report.
Global stock prices have been surging, fired up by “optimism about the productivity-enhancing potential of AI,” IMF Managing Director Kristalina Georgieva said.
But financial conditions could “turn abruptly,” she warned in a speech ahead of the organization’s annual meeting next week in Washington.
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