China regulator warns AI investment is crowding out traditional industries
Photo: Crypto Briefing
A senior official at China's financial regulator says concentrated AI capital is lifting leverage in tech and pushing up borrowing costs for everyone else One of China’s top financial regulators has a message for the global AI investment boom: too much money is piling into too few places. Xiao Yuanqi, vice head of the National Financial Regulatory Administration (NFRA), said on Tuesday, November 3, that global capital flowing into artificial intelligence has become excessively concentrated. In his view, it is squeezing traditional industries by driving up what they pay to borrow.
Source: Crypto Briefing
