Bret Taylor, co-founder of the artificial intelligence startup Sierra, said Thursday that AI "probably" is a bubble that is causing both "smart money" and "dumb money" to fund competitors at every layer of the tech stack.
Taylor, who also serves as the chairman of OpenAI's board, said the free market will ultimately determine where the value is and which AI players have the best products. He described himself as an AI optimist.
"When everyone knows that AI is going to have a huge impact on the economy across a huge range of industries and workflows, money is plentiful," Taylor told CNBC at the World Economic Forum in Davos, Switzerland.
"I think over the next few years, you'll see a correction, you also see consolidation, but I don't think you can get innovation without that kind of messy competition," he added.