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Matěj Široký

The artificial intelligence imperative: humanity must adapt

While parts of the media portray AI as an unstoppable force destined to overwhelm society, financial markets tell a different story – one of mounting costs, rising debt and uncertain returns on investment.

Since the beginning of the year, two opposing narratives have emerged around artificial intelligence. The first – and the one that has attracted the greater share of media attention – predicts that AI will soon displace workers on a vast scale, transforming not only the labour market but the very fabric of society.

At the same time, another story is unfolding on the stock market. Shares in Microsoft and Amazon have entered bearish territory, even though both companies are widely regarded as pillars of future growth. Investors appear concerned that the planned $700 billion investment in data centre construction may not yield returns as swiftly as expected.

There are further unusual signs. Alphabet has issued bonds despite not previously having had to rely on large-scale borrowing to finance its data centre expansion. How can it be that investors harbour doubts at a moment when we are said to stand on the brink of a technological revolution and when artificial intelligence is already embedded in everyday life?

The end of white-collar jobs?

A telling illustration of the prevailing mood can be found in a recent social media post by Matt Shumer, a developer who says he has worked in artificial intelligence for six years. The piece bears the emphatic title Something Big Is Happening. It attracted remarkable attention, including in Central Europe, and has so far amassed some 84 million views.

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