OpenAI chairman Bret Taylor says AI is both a massive opportunity and a bubble

OpenAI chairman Bret Taylor sees strong echoes between today's AI boom and the dotcom era.

"I think there are a lot of parallels to the internet bubble," Taylor said in a conversation with The Verge. "If you look at the internet, some of the world's biggest companies like Amazon and Google came out of it. At the same time, a lot of big failures like Pets.com and Webvan happened right alongside them. Both existed together - massive winners and dramatic losses."

For Taylor, the key point is that AI will reshape the global economy in the same way the internet did, but it's also going to produce plenty of failed bets. "I think it's absolutely true both at once - that AI will transform the economy, and that we're in a bubble where a lot of people are going to lose a lot of money."