This picture taken on Jan. 23, 2023, in Toulouse, France, shows screens displaying the logos of OpenAI and ChatGPT. - ChatGPT is a conversational artificial intelligence software application developed by OpenAI.

A data center owned by Amazon Web Services, front right, is under construction next to the Susquehanna nuclear power plant in Berwick, Penn.

Artificial intelligence is overhyped and overvalued in a classic financial bubble, experts at the South by Southwest Conference and Festivals warned, setting the stage for a tech bust that could wipe out tens of billions of dollars in investments.

Texas elected officials and government regulators should think twice about committing taxpayer and consumer dollars to promote and power the AI industry, lest they waste billions in public funds.

Over three days at SXSW, I heard venture capitalists, electric grid experts and data scientists question whether artificial intelligence services can live up to the hype. More importantly, AI business people warned that potential customers are unwilling to pay what it costs to generate AI.

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“There hasn’t been a really good sign or even a really good objective proof of a good sustainable product that a consumer is willing to spend the amount of money that developers are actually spending to build that product,” explained roboticist Kartik Tiwari,........

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