Sunil Bharti Mittal, chairman of Bharti Enterprises, says today's rush to invest in AI feels a lot like the 1990s dot-com bubble.
He thinks a market correction is likely, with AI investments set to top $730 billion this year.
Still, he's optimistic that after the initial hype settles, some truly strong companies will stand out, just like after the dot-com era.
Mittal urges India's data sovereignty
Mittal sees big opportunities for India in AI, even though the country still faces technology shortages.
With Western markets cooling off, he believes India could attract more global investment if it focuses on data sovereignty and keeps control over its own data.
He also urged developers to self-regulate and mentioned Airtel's OneWeb is waiting for government approval, highlighting how important it is for India to manage foreign technology influences wisely.