Winners will come out of the artificial intelligence boom, but “there will be carnage along the way,” warned Chuck Robbins, CEO of Cisco Systems.
Speaking to the BBC, Robbins said AI will be “bigger than the internet” but admitted the market is likely a bubble, with some companies destined to fail. Cisco, a top tech company, provides key IT infrastructure for AI and partners with firms like Nvidia.
Robbins said some jobs, especially in customer service, will be changed or eliminated by AI. He urged workers not to fear the technology but to learn to use it, saying, “You shouldn’t worry as much about AI taking your job as you should worry about someone who’s very good using AI taking your job.”
His comments come amid warnings from leaders in tech and finance. JPMorgan’s Jamie Dimon said some AI investments will be lost, and Alphabet CEO Sundar Pichai noted “irrationality” in the AI boom. Critics compare it to the late 90s dotcom bubble, which saw Cisco’s value plunge by 80% after peaking in 2000.
Despite this, Robbins said AI’s development will lead to new applications, much like the iPhone, though risks must be managed. He warned AI could make cyberattacks and scams harder to spot but said Cisco is using quantum technology to boost security.
Robbins believes the UK has “good odds” of becoming an AI superpower, joining the US and China, and praised the UK’s forward-looking approach to technology. As chair of the Business Roundtable, Robbins regularly communicates with President Trump, calling the administration highly accessible and open to dialogue, even when there are disagreements.
