AI is a whole new industrial structure: Eric Schmidt
Former Google CEO Eric Schmidt isn't buying the idea that the AI surge is just hype.
At the RAISE Summit in Paris, he called AI a "whole new industrial structure" and pointed to high demand for hardware like NVIDIA chips as proof that this tech wave is here to stay.
AI industry's projected growth
The AI industry was valued at $189 billion in 2023 and could hit $4.8 trillion by 2033.
Schmidt says this growth is fueled by real needs—like bigger data centers and more chips—not just speculation or buzz.
Some experts warn of AI bubble
Not everyone's convinced. Some experts, like Torsten Slok from Apollo Global Management, warn that AI could be an even bigger bubble than the dot-com era because of sky-high valuations.
Still, Schmidt remains upbeat, believing AI will reshape industries and help tackle future energy challenges.