Is AI a bubble that might burst?

It is hard to imagine that anyone could have missed the fact that such economic crashes occur from time to time—crashes that could have terrible consequences for individuals and society. In recent history, many vividly remember the IT bubble that burst twenty-five years ago and, not least, the financial crisis of 2008, when the financial system almost suffered a cardiac arrest and could only be saved by massive injections of money on a comprehensive and global scale. Even today, we are still feeling the consequences in the form of sharply increased debt for both governments and individuals, financial uncertainty and increased economic nationalism.