In the past year, the U.S. stock market has seen conflicting views on artificial intelligence (AI), ranging from optimistic projections of productivity growth to skepticism about inflated investment expectations, termed the 'AI bubble theory.' However, recent developments suggest a growing concern over AI's potential to become overly powerful, leading to widespread disruptions across various sectors, a notion described as 'AI destruction theory.'

This shift in perspective began with the fear of 'SaaScalypse,' suggesting that AI might rapidly replace enterprise software. Following the launch of Anthropic's AI assistant, 'Claude CoWork,' shares of major software companies like Oracle and Adobe plummeted. This trend extends to financial institutions, where predictions of AI providing asset and tax management without high fees have led to declines in stock prices for firms like Morgan Stanley and Goldman Sachs. The fear that AI could dramatically reduce inefficiencies in freight transport has also negatively impacted logistics companies, exemplifying the wide-reaching concerns regarding AI's role in the economy.

A report published by Citrini Research on June 30, 2028, titled 'The Global Intelligence Crisis of 2028,' has further fueled these anxieties. The report speculates that by early 2027, AI agents will be fully integrated into daily life, impacting industries like travel booking and financial consulting, causing significant job losses mainly affecting white-collar workers. This situation may lead to decreased consumer spending and increased delinquency rates in mortgage payments, highlighting the central issue that human intelligence, once seen as a scarce resource, is no longer valued in labor markets dominated by AI.