Bret Taylor, co-founder of AI startup Sierra and chairman of OpenAI’s board, said Thursday that artificial intelligence is likely a bubble attracting both “smart” and “dumb” money across the tech sector. Speaking at the World Economic Forum in Davos, Taylor said the free market will determine which AI players succeed, describing himself as an AI optimist.
Taylor co-founded Sierra in 2023, which develops AI agents for customer service. The company raised $350 million in September, reaching a $10 billion valuation. He noted that AI will affect commerce, search, and payments, but adoption depends on infrastructure development, regulatory evolution, and corporate integration.
He predicted a market correction and industry consolidation over the next few years, emphasizing that competition drives innovation. Taylor previously served as co-CEO of Salesforce, CTO at Meta, board chairman at X, and co-created Google Maps. He said the AI industry is at the beginning of a growth curve, with long-term impacts across multiple sectors.
