World Economic Forum President Børge Brende has warned of three potential bubble zones in the global economy: cryptocurrencies, artificial intelligence and sovereign debt. Speaking in São Paulo, Brazil, Brende highlighted that global technology-stock valuations were already facing sharp declines and that government debt levels were the highest since 1945. He noted that while AI remains a major productivity force, it also poses a threat to white-collar jobs in major cities. The warning comes amid rising macro fragility despite bullish sentiment on innovation.