Can AI mania be justified? No, says financial historian Edward Chancellor, author of a definitive history of past speculative excesses, from the South Sea Bubble onwards, and a brilliant recent book, The Price of Time, about the folly of sustained low interest rates. An earlier version of this article first appeared on the online financial website, Reuters Breakingviews, and is reproduced with the author's permission.  

AI - off the rails? The excitement about artificial intelligence is matched only by the technology’s voracious investment needs. Total investment in AI is set to top $1 trilli...