Cathie Wood Sees Bitcoin and AI Transforming Companies By Slashing Costs, Exploding Productivity

Updated: 04 September 2023

Disclosure

Don’t invest unless prepared to lose all the money you invest. This is a high-risk investment, you shouldn’t expect to be protected if something goes wrong.

Join Our Telegram channel to stay up to date on breaking news coverage

Cathie Wood of Ark Invest says the convergence between Bitcoin and AI may transform companies by slashing costs and exploding productivity.

The convergence between Bitcoin – and AI could transform the way companies organize, causing a collapse in costs and an explosion in productivity. I was blown away by the possibilities these brilliant entrepreneurs are creating. Look for this podcast on Thursday! https://t.co/kPW92CuhFQ

— Cathie Wood (@CathieDWood) September 2, 2023

Cathie Wood Sees Threat For Apple, Alphabet

Elaborating on her ideas in a paper last month, Ark Invest analysts said AI may disrupt the “cash-cow businesses of large market incumbents” with OpenAI’s ChatGPT possibly threatening Apple and Alphabet by disrupting the App Store and Google Search, respectively.

Since 2014, our analysts have been dissecting the AI revolution. While big benchmarks highlight mega tech, we think AI's true potential lies beyond them in focused, agile companies. In this paper, we highlight potential opportunities built on AI. https://t.co/924f6lrMfK

— Cathie Wood (@CathieDWood) September 1, 2023

“OpenAI’s product plugins for ChatGPT enable chatbots to interact with external data and services: they can search for real-time information on the web, order groceries from local stores, and book flights, hotels, or rental cars at the lowest prices anywhere in the world,” the analysts said. “Who needs special purpose apps when a general-purpose interface can provide answers across the open web?”

The paper added that developers would be able to avoid paying 15 to 30% taxes as they do now on Apple, hurting their bottom lines, it said.

AI models will also boost productivity in agile companies across multiple jobs, it said. AI-aided software creation reduces the time spent developing software by 55%, it said, adding that by 2030 global productivity will surge by up to 4 times.

Most Searched Crypto Launch - Pepe Unchained

Rating