Bonanza or Bubble? Where AI Goes From Here
AI is now coding apps, drafting contracts and organizing marketing campaigns. Yet the money being spent on the technology has ballooned into a vast liability hanging over financial markets, and it's still not clear how it will all pay off
Illustration by Jay Daniel Wright
Three years into the AI boom, Wall Street can’t decide whether artificial intelligence will be too disruptive or not disruptive enough.
Once associated with spitting out pithy responses in chatbots like ChatGPT, the technology has evolved to tackle more valuable work — speeding up online research, creating presentations, editing videos, and writing and debugging software code. The leading AI developers are racing to expand their offerings to new sectors, including financial and legal services, threatening legacy software providers that serve these markets.