AI-driven productivity boom
Howdy team.?Phil Rosen here, reporting from Manhattan.?
Over the last several months, I've turned to ChatGPT for research, book summaries, and even pasta recipes.?
But no amount of homemade penne vodka could have prepared me to believe that the AI tool would catalyze what Wall Street predicts could?turn into a $15 trillion market?— more on that below.?
Sign up here to receive Insider’s full 10 Things Before the Opening Bell newsletter — directly in your inbox.
And hear more from Insider's market experts by joining our LinkedIn group.
1. It was only in March that Bank of America?strategists?declared that AI was on the brink of its "iPhone moment," and that it was about to change the world forever.?
Since then, the tech companies that claim to have some AI focus have had strong outings, OpenAI's ChatGPT continues to?attract new users, and an increasing number of commentators have praised the nascent sector's potential.?
Take?billionaire Paul Tudor Jones, for example. He said Monday that large language models, such as ChatGPT, are going to unlock a new level of productivity for the American economy, given the technology's?exceptional adoption rate.
"I do think the introduction of large language models [and] artificial intelligence, is going to create a productivity boom that we've?only seen a few times in the last 75 years," Jones said.?
History says that boom will drive equities higher, according to Jones, and he thinks it's reasonable to expect a?1.5% increase in productivity?each year for the next five years.
In the stretches he's referring to, stocks appreciated?15% on average, and inflation's also declined, something that would be welcome news for the Fed right now.
But Ark Invest chief Cathie Wood, on the other hand, who is also bullish on AI, warned that such a disruptive advancement could?supplant existing household tech names, such as Apple.?
In a tweet Sunday, Wood pointed out specifically that ChatGPT plugins, which are third-party apps built with the language model, could dislodge Apple's control on its high-margin app store.
领英推荐
The giant's quarterly iPhone sales slowed last quarter, and shareholders may have to brace for another snag.?
Apple's "base business is stagnating and its high-margin apps platform could be disintermediated by ChatGPT plugins," Wood said.
Those comments came as the company surpassed the?entire market value of the entire Russell 2000?— meaning all 1,917 stocks in the small-cap index combined aren't worth as much as Apple.
Have you tested out ChatGPT? What do you use it for? Let us know in the comments.
In other news:
2. Morningstar broke down the 11 regional bank stocks that are deeply undervalued.?Recent turmoil has put these names on the bargain rack, analysts say, and this batch looks poised to survive the pressures weighing on banks.?See the list.
3. This real estate investor has a $36,000 salary but he now owns 2,400 rental units.?He started off with buying two run-down, single-family homes with a partner.?He shared his top five tips for getting started when you're strapped for cash.
4. Meet the manager of an award-winning credit fund that's tripled its benchmark since 2014.?Sam Reid told Insider?how he manages his investments and what strategies he recommends right now ahead of a credit crunch and recession.
5. A new survey found that bitcoin would be more trusted than the US dollar as a safe haven if the US defaults on its debt.?Still, most investors chose gold as the ultimate option, given its history as a safe-haven asset and its recent price gains.?Full details.
This is a condensed version of Insider’s 10 Things Before the Opening Bell newsletter. To see items 6-10, sign up here to receive the full newsletter in your inbox.
This newsletter was curated by Phil Rosen.
yes! ClaroAI.com is changing every phone call every online meeting! it is a BOOM!
Managing Partner at Oparah Realty
1 年This AI-driven productivity boom is truly remarkable. The potential of large language models like ChatGPT to unlock new levels of productivity is gaining recognition from prominent figures like Paul Tudor Jones. The expected increase in productivity and the positive impact on equities is exciting. However, as with any disruptive technology, there are concerns about its impact on established players. Cathie Wood's warning about ChatGPT plugins potentially challenging Apple's control on its high-margin app store highlights the transformative nature of AI. It's fascinating to see how AI tools like ChatGPT are being utilized by individuals for various purposes.
??International Startup Mentor & Coach ??Agile Business Transformation Strategist ??Sustainability Projects ??AI Supported E-Learning Solutions
1 年Personally I see, Chat GPT is an overheated bubble and in many aspects I tend to agree with Oscar N. I would look at it as another tool, which is available to make us more productive but on the other hand it can be also very disruptive if it is used with the wrong purpose. Here I see already threats in creating white papers in Universities etc, which is shooting to your feet before you learn to run. From personal perspective, I have definitely saved up quite a bit on legal fees by contract drafting and recieved support in idea generation for my online courses content, nevertheless, people who say that they can write or offer full course A to Z created by Chat GTP, is nonsense. 2 Extremes that I have encountered up to today: Someone who had decided to write a 300 page book and was disappointed when system stopped before finishing it - I would be curious though to see what the content might be. And the Rocket of the week is Auto-GPT, free personal assistant, Here is the link https://agentgpt.reworkd.ai/?and start testing today. You don't need any coding skills, and you don't even need to install anything on your computer. All you have to do is ask a question or provide a prompt, and Auto-GPT will do the rest. Good Luck!
????Sr. Data Engineer | ??Content Creator & Meme Engineer | ????????
1 年You know, we've heard these big promises before. Things like IoT, 5G, augmented reality, quantum computing, big data, blockchain, and edge computing. Every time, we're told they're going to change the world. But look around. A few years later, things are pretty much the same. The only big change is that the companies selling these ideas are worth more money. Some of these companies even crash when people realize they've bought into a dream that just isn't happening. Now, people are saying the same thing about AI. But you have to wonder, is it really going to change everything? Or in a few years, will we be right back here, questioning the next big thing? We'll have to wait and see.