Warnings about AI and crypto risks from the World Economic Forum
Heads up: The World Economic Forum's president, Borge Brende, just flagged some big risks in the financial world—especially around AI, cryptocurrency, and rising debt.
He pointed to recent drops in tech stocks as a warning sign and said that high market prices right now might be pumped up by hype over AI's potential, even though interest rates and inflation are still high.
Brende also highlights potential job losses due to AI
Brende is also worried about government debt hitting its highest levels since 1945.
He noted that while AI could make us more productive, it also puts a lot of white-collar jobs at risk—think of recent layoffs at Amazon and Nestle.
He compared this shift to how old industrial cities struggled when factories closed down.
Still, he reminded everyone that new tech has often led to better wages and growth over time—even if the transition can be rough.