OpenAI CEO Sam Altman published a note saying that artificial intelligence (AI) is the “most consequential” thing in history. Unlimited co-founder, CEO and chief investment officer Bob Elliott sits down with Josh Lipton and Madison Mills on Market Domination Overtime to explain his perspective on AI and how investors should think about the technology.
“I think it’s very difficult for people to think about technological innovation in the context of all the technological innovations that came before it. So, to argue that AI is more important than, say, plumbing or railways or roads in general. [To say AI is the most consequential tech in history] “It's a little far-fetched,” Elliot tells Yahoo Finance.
“Even [in] “I think personal computing and the transformation that has happened there challenges any idea of what AI is going to deliver in the future.”
The impact of AI is “up in the air,” Elliott says, noting: “What’s not up in the air is what’s priced into the market. And what’s priced in now, particularly for those AI stocks, is not just a boom in investment, an incredible increase in U.S. productivity, at the economy-wide level, multiples of what we saw from personal computing.”
“But AI is limited by these kinds of macroeconomic realities, and right now it paints a picture that is at best improbable and at this point most likely improbable.”
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This post was written by Naomi Buchanan.
