The head of the World Economic Forum (WEF), Børge Brende, expressed concerns about three significant "bubbles" in the financial markets that could threaten the global economy. This statement was made in an interview quoted by Reuters.
Brende emphasized that amid the sharp decline in the stocks of global tech giants, three main bubbles are forming: the first in the cryptocurrency sector, the second in artificial intelligence (AI), and the third is a debt bubble, which he noted has not been at such a high level for governments since 1945.
Despite growing concerns about high interest rates, persistent inflation, and trade conflicts, markets have been ignoring these factors for several months, hoping for revolutionary changes that AI could bring to the economy and business. Brende added that while artificial intelligence can indeed significantly increase labor productivity, it may also threaten many jobs in the "white-collar" sector.
In the first half of October, experts from the International Monetary Fund also warned of a potential danger associated with the AI boom, which could lead to a catastrophic crash due to overly optimistic forecasts. In their opinion, the collapse of this sector could be comparable to the dot-com crash that occurred in 2000-2001.
