The AI boom isn't like other bubbles

Matthew Lynn is a financial columnist and author. He writes for the Daily Telegraph and the Spectator in London. Have you heard? We are living through a rerun of thegreat railroad maniaof the 19th century. Or theelectrification boomof the 1920s. Or the dot-com bubble of the early 2000s. It has become fashionable for analysts to compare the huge sums of money artificial intelligence companies are spending on infrastructure to the rollouts of earlier transformative technologies. But the AI frenzy may be one of a kind.