Thoughts on Artificial Intelligence
Posted by John Posey
Have you noticed a buzz around new technology referred to as artificial intelligence (AI)? It seems to be mentioned more often in the media and I suspect it may become a hotter topic. Artificial intelligence is described as the theory and development of computer systems able to perform tasks that normally require human intelligence, such as visual perception, speech recognition, decision-making, and translation between languages. ChatGPT by OpenAI is a popular example that you may have heard about or even used personally.
Josh Brown highlights some compelling points in his article, The AI Bubble of 2023, in some of the most candid & entertaining ways possible, that suggests there is a ripe opportunity to witness mass mania over investing in AI such as we’ve seen with Bitcoin and the Dotcom era of the early 2000s. I suspect Josh is largely on point and the perspectives may prove useful as this technology evolves and the corresponding media attention ensues. I wouldn’t consider speculating in AI (or anything else for that matter) before reading Josh’s take. To that point, speculating in and of itself may not be an advisable strategy to begin with. Many choose to play the game of speculation often for fear of missing out (AKA FOMO). Treat speculative investment ideas like a lottery ticket – you better be comfortable with the possibility of losing.
Ben Carlson also makes an interesting case for why market bubbles aren’t all bad in and of themselves in his article, Why Bubbles are Good for Innovation. In short, if you can recognize the patterns of past bubbles rhyming with current events, you’ll have a far better perspective than the average investor.
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