Why AI Will Change Everything About Everything

Editor’s Note: The tech sector has been on fire this year – and we can thank part of the recent strength to the artificial intelligence (AI) frenzy. The reality is AI is transforming the world, and those who are on the right side of it are primed to prosper.

My InvestorPlace colleague Luke Lango will be holding a special event, the 2023 Tech Melt Event, next Tuesday, June 6 at 7 p.m. Eastern time, to discuss AI and how to master this AI “Everything Revolution.” Click here to register for the event now.

For more details on the “Everything Revolution,” check out his article below…

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We stand on the precipice of a new tech bull market, one that’s certain to reshape the investment landscape.

What’s becoming unmistakably clear is that not every stock will share in this wave of prosperity. The chasm between tech stocks and the broader market is widening at an unparalleled rate. And the remarkable performance of tech stocks today echoes a similar pattern from the past – the dawn of the internet-fueled bull market of the early 1990s.

Back then, tech stocks ascended to astronomical heights, while most others remained grounded. Now, we are witnessing a similar trend, and there’s no denying that history is echoing itself.

As investors, the course of action is straightforward – we must seize this opportunity and invest aggressively in tech, particularly with minimal diversification into other stock categories.

The emergence of AI as a momentous economic catalyst signals the advent of an increasingly exclusive bull market. In this evolving scenario, gains will be chiefly concentrated in AI and tech stocks, while the majority of other stocks may lag behind.

AI is not just a technological development; it’s a societal revolution that will mold our future. On Wall Street, AI stocks are set to create a new generation of millionaires.

Indeed, we’re witnessing a resurgence of the internet boom that defined the early 1990s.

When the internet emerged, savvy individuals seized the opportunity, founded internet companies, and invested in internet stocks. Today, they stand among the wealthiest and most influential individuals globally.

Of the ten richest people today, a staggering seven owe at least a portion of their fortunes to the internet.

The introduction of the World Wide Web in the early 1990s was a defining moment in human history. Those who embraced the internet – the Jeff Bezos, Bill Gates, and Mark Zuckerbergs of the world – amassed extraordinary wealth and power. Those who missed the boat have been playing catch-up for the past 30 years.

We’re currently at a similar crossroads. The choice we make now can determine our future prosperity.

AI Presents a Make-or-Break Moment

The Age of AI is upon us. And what we’re seeing with ChatGPT is just the beginning. Yes, it’s awesome. We use it regularly in our research. But when it comes to AI’s capabilities, it really is just the tip of the iceberg.

AI models are built on top of data. They use data to gather information, generate insights, draw conclusions, mimic behavior, and make predictions. Data is their fuel.

What happens when you give a car 10X more fuel? It drives 10X farther.

What happens when you give an AI model 10X more data? It becomes 10X better.

And over the next few years, AI models will have more than 10X more data than they have access to today.

That’s not an exaggeration. That’s a fact.

In 2020, the total volume of data created worldwide was 47 zettabytes. By 2030, that volume will exceed 600 zettabytes. That’s a 13X increase – and, by extension, a potential 13X increase in AI capability.

Folks, these AI models are only going to get way better over the next five to 10 years.

You think it’s impressive that law firms are already using AI to write briefs or that hospitals are using AI to diagnose diseases?

We’re just getting started.

Fueling an “Everything Revolution”

AI will be used to power a whole wave of automation technologies – robotic landscapers, delivery drivers, pilots, waiters, and more.

AI will be used to diagnose, prescribe, and treat patients for all sorts of ailments.

It will be used to trade stocks, create music and movies,write articles, code, concoct new recipes, and make fabulous drinks. It will be used to clean, repair, and restore cars, homes, and just about every object you can think of.

This is an “Everything Revolution.”

AI will be applied to every industry of the economy. This revolution will leave no stone unturned. By 2030, every company in every sector of every country will use AI.

In fact, I think it’s possible that an entire country could be run by AI within five years.

It sounds crazy today, sure.

But to folks in the 1990s, so did the concept of an online bookstore replacing Sears or a streaming service putting Blockbuster out of business.

The future comes at you fast. If you’re not ready for it, it could blindside you – or, even worse, bankrupt you.

And get this: This week, Bloomberg Intelligence released a brand-new research report saying that just one portion of the AI economy – generative AI – will grow by more than 40% per year, reaching $1.3 trillion by 2032.

Furthermore, career transitioning firm Challenger, Gray & Christmas released its monthly national layoffs report. In it, the firm – for the first time ever – listed “artificial intelligence” as one of the main reasons people were laid off last month.