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Hello and welcome to Business Daily from the BBC World Service.

My name's Ed Butler.

Today we're asking, is the boom in artificial intelligence anything more than a bubble?

I am far more worried about that than others.

So if the market's pricing in 10%,

I would price it's more like 30. Yes, some senior figures in finance are weighing in. Could we be

heading for an AI crash? And will we feel it if we do? With the AI bubble, somebody will

end up dominating this in the years and decades down the road.

Will it be the current companies?

I sort of doubt that.

How artificial is the AI boom?

That's Business Daily from the BBC World Service.

I would give it a higher probability than I think is probably priced in the market and by others.

I'm not saying next year.

Could be six months, could be two years.

So I say the level of uncertainty should be higher in most people's minds than what I call normal.

Jamie Diamond, head of J.P. Morgan Chase, considered by many to be the most important banker in the world.

When he warns of an AI bubble, as he did to the BBC's business editor, Simon Jack, people tend to listen.

AI is real. AI in total pay off. Just like cars in total pay off, TV in total pay off,

but most people involved in it didn't do well.

But does that mean some of the money being spent right now will inevitably be wasted money in the final analysis? Probably. But he's not the only senior figure saying this. The Bank of

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