Artificial Intelligence in 2021 is similar to Crypto as Sector Faces Hype

• Geoff Lewis, founder Bedrock, believes artificial intelligence stocks are driven by hype. 
• CNBC interviewed him on Thursday, saying that AI was “analogous” to crypto in 2021.
• Lewis stated that AI’s greatest value will only be available to the largest players. 

Geoff Lewis, Bedrock founder and CEO, believes artificial intelligence is being fuelled by investor hype. 

In interview with CNBC on ThursdayHe said that the investor excitement around AI reminded him of a similar bull market that drove cryptocurrencies to record heights two years back. 

Lewis stated that it was analogous to crypto in 2021 or so. However, there are likely to be a few things that will last.

He said that AI’s lasting qualities after the hype have been “downstream AI infrastructure” that allows big tech companies to incorporate AI into their products.

ChatGPT, an OpenAI chatbot that has been a huge success, has attracted investor interest in artificial intelligence. Google just announced its Chatbot Bard AI. 

Lewis suggested that the AI race’s biggest winners will not be the largest players, such as Google-parent Alphabet and Microsoft. 

Microsoft invested $10B in OpenAI last Month and recently updated its Bing search engine by ChatGPT-like tech, which poses a greater threat for the Google search market.

Lewis stated that AI will be most valuable to big-tech companies. He was most bullish about Microsoft. “I don’t see it as a huge startup opportunity.”