From boom to burst, the AI bubble is only heading in one direction

I think the author is incorrect to look at the cycle of market bubbles and should instead be looking at the Gartner Hype Cycle. We are currently at or just past the peak and moving into the trough of disillusionment (to wit: this article). Eventually the companies that are actually building useful technology will emerge and win out in the long run, the others will fail. Just the same as any other new hyped technology.

https://en.m.wikipedia.org/wiki/Gartner_hype_cycle

We had the dot com bubble but it didn’t end the tech sector which is bigger than it ever was during that bubble. The same is likely with AI. If the reality doesn’t match the hype then the bubble may burst but the technology will eventually find its place.

AI and the changes it makes are here to stay. The financial markets will go through cycles trying to adjust to these changes. He's right. This is a predictable pattern. But he concludes implying the downcycle will be permanent. The web survived and thrived after the dot.com crash. AI will survive and thrive after the ai.com crash. It won't end in the planet covered in data center as he ridiculous jokes at the end of the article.

At the moment we could make only one conclusion: AI already disruptive technology and it's using already good enough for wide adoption of already existing models; from other side, it is not universal tech, and nobody knows when it become universal, and in current staTE it is impossible to sustain growth to universal.

To be more clear, AI is just semiconductor application, which is now growing faster them Moore law, nothing more.

And it is possible to change state to highly regulated, so AI will be monopolized and limited to academy environment and to big corporations (which could pass regulations), and this could make it profitable, at cost of growth slowing.

But tough regulations are against market competition, this will not be done, I believe.