New Delhi, Oct. 16 -- The artificial intelligence (AI) boom is fuelling the expectation of economic growth in the short-run, but uneven adoption and expectations running ahead of actual productivity gains could lead to "near-term disappointment," and a sharp equity market correction with losses spreading globally, according to International Monetary Fund (IMF).

The IMF, in a blog post, noted that the ongoing AI boom is largely driven by massive investments in infrastructure, particularly data centres, led by major technology companies known as hyperscalers. Despite having profitable core businesses, these companies are increasingly relying on debt markets to fund their expansion.

Also, their share of investment-grade bond issuance has s...