World Economic Forum Chairman Warns: AI, Cryptocurrency, and Debt May Become Three Major Bubbles

The Chairman of the World Economic Forum (WEF), Borge Brende, stated on Wednesday that global financial markets may face three potential bubbles that deserve global attention. Brende said during his visit to São Paulo, Brazil's financial center, "In the future, we may see bubbles emerging. The first is the cryptocurrency bubble, the second is the AI bubble, and the third is the debt bubble." He added that the level of government debt has never been this high since 1945.

Brende pointed out that while AI is expected to bring significant productivity gains, it may also pose a threat to a large number of white-collar jobs. In the worst-case scenario, we might see a phenomenon similar to the "American Rust Belt" in major cities, where jobs in those cities with a high concentration of back-office positions and white-collar employees are more easily replaced by AI. He cited recent announcements of layoffs by companies such as Amazon and Nestlé as a reflection of this trend.