Steve Hanke Calls AI Overhyped And Dangerous

Steve Hanke, a Johns Hopkins economist and veteran trader, told Business Insider by email in 2024 that he agrees with Yann LeCun and considers large language models and the broader AI boom "overhyped and potentially dangerous." He cited LeCun's spring 2024 critique that LLMs lack deep understanding, warning investors as OpenAI seeks north of $100 billion and hyperscalers project $520 billion capex for 2026.