Early in my career as a banker, I remember spending a serious amount of time explaining how a fax machine worked to one of my customers. He did not understand the technology. It seemed to make him angry that documents could be delivered so quickly and without filters. Well, he would likely be completely flummoxed if I was to get him to either understand, or utilize, artificial intelligence.
The word itself is a bit anxiety producing. Our intelligence, as humans, seems to belong to us as individuals. None of us can identically replicate the intelligence of another person. Their skill set and experiences uniquely belong to them. That’s where creativity blossoms and individual contributions become so meaningful. During the book writing process my book coach kept encouraging me to “find my voice.” Well, artificial intelligence is the gathering of many voices. And it appears to be driving all forms of new industry which then filters into the investment landscape.
I asked an Artificial Intelligence (AI) application “what is artificial intelligence” and here is its quick summary:
“AI is a modern mechanism that empowers computers to work as intelligently as human beings. It is a branch of computer science that focuses on building intelligent machines that can perform smart tasks. AI comprises many areas such as machine learning, natural language processing, computer vision, and robotics.” –Jasper AI
From fax machines to ATM’s to the internet to artificial intelligence there are entire industries that have and will be changed by technology. How this new iteration of learning, research and investing comes to fruition is in its infancy. The investment case for AI is interesting and somewhat similar to the early days of doomed ventures like EToys or massive successes like Amazon. I will be paying attention! As I mentioned earlier AI is the gathering of many voices. Let us hope that is not at the cost of the individual’s authentic contribution.
