OpenAI CEO Sam Altman published a note saying artificial intelligence (AI) is “most consequential” to 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 tech.
“I think it’s very hard for people to think about technological innovation today in the context of all the technological innovation that has come before. So, arguing that AI is more consequential than, for instance, indoor plumbing, railroads, or roads in general. [To say AI is the most consequential tech in history] is a bit of a stretch,” Elliot tells Yahoo Finance.
“Even [in] personal computing and the transformation that existed there, I think probably challenges any idea of what AI is going to deliver ahead.”
AI’s impact is “up in the air,” Elliott says, noting, “What isn’t up in the air is what’s priced into the market. And right now, what’s priced in, particularly to those AI stocks, is not only a boom in investment, an incredible increase in US productivity, aggregate at the economy-wide level, multiples of what we saw from personal computing.”
“But AI is limited by those sort of macroeconomic realities, and right now, it’s painting out a picture that is at best unlikely and most likely implausible at this point.”
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This post was written by Naomi Buchanan.
