Wed, 28 Jan 2026

Wed, 28 Jan 2026 AI boom will produce victors and carnage, tech boss warns

Cisco chief executive Chuck Robbins compares AI to the dotcom bubble of the early 2000s.
Robbins says some jobs will be eliminated or changed by AI, particularly in customer services where companies may need fewer people. However, he urges workers to embrace the technology rather than fear it. Other industry leaders have also expressed concerns about the AI boom, including JPMorgan Chase's Jamie Dimon and Google parent Alphabet's Sundar Pichai. They believe there is "irrationality" in the market, similar to the dotcom bubble that burst in 2000. Despite Cisco's current orders exceeding £1.3bn, Robbins acknowledges the comparison with the dotcom collapse but believes winners will emerge from the AI boom. He compares AI to iPhones, saying new applications and use cases will develop over time. Robbins warns of potential risks associated with AI, including job losses and online safety concerns. However, he notes that Cisco is working on mitigating these risks through quantum technology. The US and China are currently dominant in AI, but Robbins believes the UK has "pretty good odds" of becoming an AI superpower itself if it continues to embrace the technology. As a representative of the Business Roundtable, Robbins also spoke about his dealings with the Trump administration. He notes that business leaders should have dialogue with the administration rather than publicly criticizing its policies.
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