The president of IBM Spain, Horacio Morell, argues that artificial intelligence is drawing too much money, according to El Mundo. He expects the wave to create both winners and losers, yet judges that the end result will be favourable.

"There is overinvestment in AI. There will be winners and losers, but in the end the net result will be positive," Morell said, as reported by El Mundo.

Morell also dismissed the idea that AI poses a danger to humanity, the newspaper reported. He instead backs positioning Spain as a front-runner in quantum computing.