# AI Bubble Will Burst, 99% of Companies to Fail, Says Baidu CEO! 💡

**URL:** <https://onehack.st/t/ai-bubble-will-burst-99-of-companies-to-fail-says-baidu-ceo/294187>\
**Category:** News & Articles\
**Tags:** business, technology\
**Created:** [October 22, 2024, 2:14am UTC](https://onehack.st/t/ai-bubble-will-burst-99-of-companies-to-fail-says-baidu-ceo/294187 "2024-10-22T02:14:19Z")\
**Posts on this page:** 1\
**Page:** 1

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**Author:** ![TheJoker](https://onehack.st/user_avatar/onehack.st/thejoker/32/22660_2.png) [@TheJoker](https://onehack.st/u/TheJoker)\
**Post date:** [October 22, 2024, 2:14am UTC](https://onehack.st/t/ai-bubble-will-burst-99-of-companies-to-fail-says-baidu-ceo/294187/1 "2024-10-22T02:14:20Z")

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**Summary:**

1. **Predictions of an AI Bubble**  
Baidu CEO **Robin Li** warns that the AI industry is experiencing an inevitable bubble, likening it to the dot-com bubble of the '90s, with only about **1%** of companies expected to succeed long-term.

2. **Improvements in AI Accuracy**  
Li claims that hallucinations produced by large language models are no longer a significant problem, noting improvements in the accuracy of responses from AI chatbots over the past **18 months**.

3. **Future Job Displacement**  
The CEO predicts that it will take **10 to 30 years** for AI technology to displace human jobs significantly, urging companies, organizations, and governments to prepare for this paradigm shift.

4. **Market Value Creation**  
He emphasizes that while most startups will fail, the few successful ones are likely to create substantial value for society.

5. **Call for Readiness**  
Li stresses the need for all stakeholders—companies, organizations, and ordinary individuals—to get ready for the upcoming changes driven by AI advancements.

**Read more at:** [The Register](https://www.theregister.com/2024/10/20/asia_tech_news_roundup/)