Ray Dalio says AI is 'eating everything' — and it might 'eat itself' (www.businessinsider.com)

Ray Dalio, the billionaire investor and founder of Bridgewater Associates, recently voiced concerns regarding the future profitability of artificial intelligence technologies. During an episode of the "All-In Podcast," Dalio asserted that while AI is rapidly transforming industries—often described as "eating everything"—it may not be generating the profits to sustain itself. He warned that massive investments in AI could lead to a situation where companies fail to monetize the technology adequately, reminiscent of the dot-com boom when many internet firms collapsed despite the technology's transformative potential. Dalio's comments come amid a report from Citrini Research that speculates the impact of AI on the economy could be damaging, potentially leading to significant job losses in white-collar sectors and slowing consumer spending. As companies increasingly automate tasks that were once performed by professionals, the resulting economic shock could culminate in a stock market crash. This raises alarm bells not only for investors but also for AI/ML developers, who must now navigate a landscape where the hype surrounding AI may not translate into sustainable business models, especially with aggressive competition from countries like China offering low-cost AI solutions.