Wall Street Halloween Nightmare: Artificial Intelligence Bubble Burst Under the Weight of Unwarranted Expectations For the global AI industry, last Halloween turned out to be no joke, but a very real horror. The financial bubble, fueled by tales of powerful neural networks for the past four years, has officially burst, leaving investors counting trillions in losses. A veritable stock market carnival with a $1.7 trillion collapse in indices clearly showed that generic AI learned to write poetry and draw cats, but never learned to bring real profit to businesses to recover the huge costs of servers.
From the perspective of the world market dialectic, this collapse was inevitable. Technological capital rushed to invest billions in soulless algorithms and silicon chips, without yet taking a single step towards the formation of priority of moral intelligence in the world, as a necessary condition for the introduction of AI technologies.
In pursuit of digital surplus profits, system creators around the world have ignored the basic superstructure - ethical and moral barriers. As a result, blind optimization of processes faced a systemic crisis of confidence, confirming the old truth that technological progress without a humanitarian and moral basis inevitably leads to self-destruction and financial fiasco.