Nokia CEO says AI investments won't slow down because it's a 'super cycle' with 'massive' prospects

Nokia's CEO, Justin Hotard, recently shared insights on the future of AI investments, emphasizing that growth is set to continue unabated due to what he describes as a 'super cycle' in technology development. In an interview with CNBC, Hotard noted that this trend represents a long-term growth trajectory that could last for many years. Highlighting the current applications of artificial intelligence, Hotard pointed out that large language models (LLMs) are primarily being utilized for language-related tasks. He also mentioned that sectors like autonomous vehicles, augmented and virtual reality, and robotics are still in their infancy, suggesting that there are numerous opportunities yet to be explored. Since stepping into the role of president and CEO of Nokia in April, Hotard has brought his experience from his previous position as executive vice president at Intel’s Data Center & AI Group. He expressed that AI is driving significant demand for network expansion and cautioned against viewing AI as a temporary bubble. Instead, he compared it to the internet boom, which saw initial overvaluation followed by substantial growth. On the topic of predicting short-term AI market trends, Hotard acknowledged the uncertainty but reiterated his belief in the vast potential for long-term growth. His comments come as the tech industry sees a surge in AI investment, with companies like Meta committing billions to infrastructure and data centers. Meta's CEO, Mark Zuckerberg, remarked that while an AI bubble could be on the horizon, he prefers to over-invest rather than under-invest, highlighting a cautious yet optimistic approach to the future of AI technology.