Will Summerlin, a former analyst at Ark Invest, believes that Artificial Intelligence (AI) is the most significant driving force in the modern economy.
What Happened: Summerlin took to social media platform X formerly known as Twitter to share his thoughts on the impact of AI on the economy. He believes that AI is rapidly integrating into various sectors, automating a wide range of tasks and workflows. He stated that the potential of AI is unparalleled in the history of the modern economy.
He further noted that the value of AI can be easily measured. High-quality AI products can make tasks significantly cheaper or solve problems that are impossible for humans to solve. This contrasts the value of crypto products and the early internet, which was harder to measure and had a longer feedback loop.
Summerlin left Ark Invest in September, expressing his excitement about the future of the AI revolution and his continued involvement in the broader ARK open research ecosystem, according to his social media post.
Why It Matters: The impact of AI on the global economy has been a topic of significant interest in recent times. Ark Invest, under the leadership of Cathie Wood, has projected a $28 trillion opportunity in AI, with key sectors and companies such as Tesla and drone technology set to benefit.
However, not everyone shares this optimistic view. Some, like Apollo’s Chief Economist Torsten Sløk, have warned of an AI bubble that could be even bigger than the 1990s tech bubble.
This has sparked a division among investors, with some expressing optimism and others raising concerns about a potential AI bubble.
Artificial Intelligence | Photo by Andrea De Santis on Unsplash
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