MIT economist’s warning on AI: A lot of money of tech companies will go to waste

MIT economist Daron Acemoglu said that the hype surrounding Artificial Intelligence (AI) is unnecessary and may not meet its lofty expectations, asserting, “A lot of money is going to get wasted.” Only 5% of jobs may be taken over or heavily assisted by AI technologies over the next decade, he said suggesting that the economic benefits that companies are hoping for from AI may not come to fruition.