Nobel-winning economist Joseph Stiglitz says the current hype around artificial intelligence (AI) is a bubble that could pop, and India should be careful.
Speaking at the Hindustan Times Leadership Summit, he pointed out how AI threatens jobs for coders and programmers, which are key to India's growth.
Stiglitz called it "It's an irony that AI was really good at replacing coders, programmers..." at the 24th Hindustan Times Leadership Summit.
Stiglitz criticizes AI stock hype
Stiglitz warned that without smart policies, countries could see massive job losses and economic instability as AI spreads.
He criticized how some companies hype up risky AI tech just to boost their stock before going public.
While the US might benefit from these advances, Stiglitz said India could lose out unless it finds ways to share the benefits more fairly and rethink its economic strategy.