The AI 'Bubble': A New Era or a Repeat of the Past?

The history of technological revolutions is filled with periods of extreme enthusiasm and massive investment, which often end in a sharp market correction. The dot-com bubble of the late '90s is the most prominent example, where companies with no clear business model, other than a name ending in .com, reached astronomical valuations. Today, as the world talks incessantly about Artificial Intelligence (AI), many wonder if we are on the verge of a similar bubble, not because of the technology itself, but due to the unprecedented investment fever surrounding the thousands of small startups emerging daily.

The Parallel with the Dot-com Era

The situation in the AI startups market bears striking similarities to the dot-com era. Every day, dozens of small companies announce their founding, promising to 'change the world' with the help of artificial intelligence. These companies, often consisting of a small team of developers, manage to attract millions or even billions in funding, based mainly on a compelling idea, a proof-of-concept, or simply having 'AI' in their name.

The fear of missing out (FOMO) prevails. Investors, seeing the explosive growth of giants like OpenAI, rush to find the 'next unicorn' before their competitors. However, this excessive flow of capital creates a huge gap between the company's valuation and its actual value, i.e., its revenue, profitability, or sustainable growth. Many of these startups do not yet have a clear plan on how they will generate revenue or maintain their market position against large players with far more resources.

The Bubble's Impact on Technology

It is important to distinguish the bubble from the technology itself. Artificial Intelligence is not just a trend. It is a transformative technology with enormous potential. However, a bubble has the power to distort the market and negatively affect even healthy growth. When the bubble bursts, many of these over-valued startups will disappear, taking billions in investment capital with them. This can lead to a period of distrust and caution from investors, affecting even the most worthy companies.

The market correction will act as a necessary 'cleanup,' separating companies with real value from those that relied solely on investment hype. The winners will be those that have not only innovative technology but also strong foundations, sustainable business models, and the ability to survive in a tougher economic climate.

Conclusion: What's Next?

History teaches us that after every major technological 'bubble,' a period of realism and maturation follows. The dot-com bubble may have wiped out thousands of companies, but it left behind a strong foundation for the growth of the giants we know today, like Google and Amazon.

The same is expected to happen in the field of Artificial Intelligence. The investment bubble is likely to burst at some point, but the technology itself will not disappear. On the contrary, it will mature and integrate into every aspect of our lives. The challenge for investors and entrepreneurs is to see beyond the current hype and focus on real, long-term value. Only then will the AI revolution be able to fulfill its true potential.