AI is coming sooner than you think
It took us 60 years for all of us to get a telephone, we all got on Facebook in a decade, and we think that AI will be even faster, and this is where the intersection of AI and what’s happening with the cloud is very important because eg AWS, Amazon Web Services, are allowing companies to embrace AI without having to hire expensive AI scientists and spend hundreds of millions of dollars on the latest technology to be able to use AI services.
Exponentially better and cheaper products
Moore’s Law2 is the defining exponential curve for technology. Today $1000 buys you the computing/brain power of a mouse, in 2023 that will buy you the brain power of a human, and in 2045 that will buy you the brain power of the entire human race. Think what you’re going to be able to do with that amount of computing power that cheap, the amount of data we’re creating. The advancement in AI over the next few decades are going to be phenomenal.
AI revolutionises transportation
This industry is already being disrupted. We now don’t queue for taxis, we now think electric vehicles are cool, Uber two years ago launched UberPOOL which is a ride sharing commuting service. It’s now 20% of all their rides globally. Think about the implications of this disruption for auto companies, for auto supply chains, for oil companies, the energy complex, insurance companies. So, there’s going to be a lot of disruption and that creates risk and uncertainty, but what I can tell you with conviction is that AI will enable technology to take more share of the global economy.
1Deep learning: involves feeding a computer system a lot of data, which it can use to make decisions about other data. This data is fed through neural networks – logical constructions, which ask a series of binary true/false questions, or extract a numerical value, from all the data, which pass through them, and classify it according to the answers received.
2Moore’s Law: coined in 1965 by Intel co-founder Gordon E. Moore, it is the ability to roughly double the number of transistors that can fit onto a chip (aka integrated circuit) every two years.
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