"Now [with] every company, you get on these conference calls and it's almost like your stock reacts to how many times you say 'AI,'" Niles said.
"So, yes, you do have a bit of a bubble developing."
However, this is usually how it goes with a new, powerful technology, Niles said.
But over the long term, much as with the internet, Niles said, AI is "real" and "going to change the way we live."
Investors: 'Look at valuations'Niles predicts that AI is actually "under-hyped [in the] long term."
Persons:
Pavlo Gonchar, Dan Niles, Niles
Organizations:
Lightrocket, CNBC's Financial