You can profit on journey into unknown so... Don't fear AI revolution
Daily Mail Day by day apprehension is growing over the impact on civilisation of AI artificial intelligence. But so too is the excitement over its potential.
As the AI phenomenon gathered pace in April, I suggested that it made sense to ensure you had some exposure to the sector, directly or through funds such as Allianz Technology, Polar Technology or Templeton Emerging Markets.
This is still my view. It is reasonable to worry about the consequences of the spread of ChatGPT, Dall-E and other 'deep-learning' generative AI systems, that produce images, sound and text, while also wishing to benefit from the boom they will create.
Shares in the mega tech companies in this field have risen sharply.
Investors want to back the big and small businesses that will supply the 'picks and shovels', the tools that will enable the tech age gold rush.
For example, C3.ai, a Californian software developer, has risen 237 per cent this year maybe partly because it trades under the AI ticker symbol.
Nvidia, the Silicon Valley semiconductor giant which makes the chips for ChatGPT, is up by 168 per cent in 2023: its market capitalisation briefly came close to $1trillion (795billion) last month.
