Andrew Ng says AGI is decades away—and the real AI bubble risk is in the training layer

The AI pioneer says agentic systems that automate workflows—not human-level intelligence—will define the industry’s next phase.

[Photo: Cate Dingley/Bloomberg via Getty Images]

What began as a race to build better AI models has escalated into a competition for compute, talent, and control. Foundation models—large-scale systems trained on vast datasets to generate text, images, code, and decisions—now underpin everything from enterprise software and cloud infrastructure to national digital strategies.

The industry’s language around AI has grown more ambitious—and more elastic.........

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