AI – from ‘build, baby, build’ to ‘bust, baby, bust’?

Every Christmas/New Year period, the BBC’s Radio 4 Today programme invites well known individuals to guest-edit the programme. Each guest focuses on a topic relevant to their interests, experience, and society. Two of the Christmas 2025 guests were inventor, engineer, and businessman Sir James Dyson and the AI pioneer and entrepreneur Mustafa Suleyman.  The Badger was driving to visit relatives on the days they were guest-editing. He had the Today programme on the radio as background noise on both occasions. He turned the volume up when each man was interviewed because they were intelligent, impressive, and articulate individuals conveying enormous common-sense and objectivity, characteristics which seem in short supply today.

Their words resonated with the Badger. Sir James Dyson, for example, likes ‘doers’ rather than ‘talkers’, and Mustafa Suleyman spoke eloquently about AI and that it must be ‘a tool in the hands of and under the control of humans if it’s to benefit all of humankind’. There’s plenty of ‘talkers’ in the world, but it’s ‘doers’ like these two with vision, objectivity, commonsense, and a passion for humankind, rather than politicians, which have the greatest influence on the lives of most people. The Badger agrees that AI is a tool. There are plenty of ‘talkers’ concerned that humans would become subservient to AI, but if we let that happen then we only have ourselves to blame. There’s currently a huge ‘build, baby, build’ rush to construct new, giant, energy-hungry, AI data centres and to amass and use the chips and devices they need to function. Enormous sums are being spent around the world, the technology continues to advance way ahead of any regulation, and AI company stock market valuations are stratospheric. Having worked in IT during the dot.com era, the words of these two men made the Badger ponder more about the current AI ‘build, baby, build’ surge.

Four conclusions emerged. The first was that such surges often produce over-capacity and ‘bust, baby, bust’ outcomes (c.f. China’s property crash) with the bigger the boom, the deeper and longer the bust! The second was that AI is here to stay, but some huge AI companies will not survive even though the AI market bubble is not like the dot.com era when many companies with high valuations had no revenues. Inevitably, when investor appetite for speculative risk tightens for any reason, and it will, a painful correction will happen. The third was that eyebrows should be raised when tech companies arrange for the restart of shuttered nuclear facilities to provide electricity for their new data centres.   

The Badger’s last conclusion was that we should question whether the world’s leaders, including those of hyperscale global tech corporations, are the right kind of ‘doers’. Do they have objectivity, common-sense, and mankind’s well-being at heart, or are they just examples of Lord Acton’s 1887 line Power corrupts and absolute power corrupts absolutely’? Whatever the answer, 2026 looks likely to be a troublesome year…

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