A friend logged on to his Fidelity account through work the other day to check on his retirement funds.
He reported that everything is normal, but he noticed that Fidelity’s “top stock” that day was a company called Innovative Eyewear Inc. (LUCY). He figured, no big deal… he’d never heard of it.
But what sparked his interest was that this no-name company had skyrocketed 235% that day!
Evidently, the company launched eyewear that listens for commands and then connects to ChatGPT inside the glasses. “I am totally freaked out by this,” my friend said. “People are going to be mindless robots soon!”
While that’s not quite true, artificial intelligence has certainly grabbed its share of headlines – positive and negative – lately. We discussed back in January why I think AI is a megatrend to watch in 2023 I said…
For most of us, AI is both mysterious and terrifying. We aren’t sure how AI might change our world. Will it be for the better? Or will we all end up like the “human batteries” that power society in 1999’s The Matrix?
But I also pointed out…
But this is simply the way innovation goes; we’re all a bit fearful of the changes that will come… until they become an integral part of our lives.
I do believe AI will become an integral part of our lives – sooner rather than later.
Here’s why it’s crucial for investors to stay abreast of its developments…
“AI will destroy millions of retirements unless you act now”
According to new research, AI is set to unleash a destructive force on the stock market in the coming weeks. Over the next 60 days hundreds of stocks could soon go to zero, catching millions of retirees and investors off guard. Here’s what our Experts suggest you do…
AI Misconceptions
For my friend, the apprehension about AI taking over everything is real… and many other folks are just as anxious about it.
Here are just a few of the top AI headlines I’ve seen recently…
- Artificial intelligence could put jobs in jeopardy – Fox News
- A.I., Brain Scans and Cameras: The Spread of Police Surveillance Tech – New York Times
- The problem with artificial intelligence? It’s neither artificial nor intelligent – The Guardian
- Addressing artificial intelligence concerns at Nazareth College – WHAM
- OpenAI’s ChatGPT faces U.S. FTC complaint, call for European regulators to step in – Fortune
- AI vs the job market: Experts say tech roles thought ‘immune’ to automation could face disruption – Fox Business
Clearly, AI is a terrifying new development.
But why the negative view? It may have to do with being unable to block AI’s intrusion into your world. You have no control over it; you can’t simply “opt out” of AI. Even if it might actually improve an aspect of your life, losing control is probably intimidating to people…
- Your doctor might use it when diagnosing you…
- Your company might look to reduce overhead by leveraging ChatGPT to write code or copy…
- And autonomous vehicles might drive up next to you at a stoplight.
It will take some adjustment, but we’re already using quite a few forms of AI.
And in fact, AI can actually make us safer… on our devices, the roads, and in our homes – even our health can be enhanced with AI technology.
Regardless, the market doesn’t care about your feelings when it comes to AI… because it’s already charging ahead.
How the AI Money Tree Grew – and Where It’s Going
Back in 2015, Elon Musk, Peter Thiel, Sam Altman, and a few other ultra-successful entrepreneurs used $1 billion of their own money to create Open AI, a non-profit startup focused on researching and developing artificial intelligence.
Nobody paid much attention to it in the years that followed, but once the insiders realized what they had created, they quietly switched changed the status of the company to “for-profit.”
Then, they flipped on the switch in November 2022.
When ChatGPT launched, it marked a seminal moment for AI, much like streaming became Netflix’s moneymaker… or even further back when Netscape had its groundbreaking moment as the first Internet browser.
Investing in either of those technologies produced many millionaires… and I believe AI has the ability to mint billionaires… perhaps even the world’s first trillionaire.
Which is astounding, considering that up until late last year, AI was considered science fiction to most folks. It seemed like some niche, far-off technology that wouldn’t really impact our daily lives in any serious way.
All that changed when ChatGPT went live to the public in November 2022. AI is now going mainstream just like the internet did in 1995.
Here’s what Bank of America had to say about AI recently:
We are at a defining moment – like the internet in the ’90s – where Artificial Intelligence (AI) is moving towards mass adoption, with large language models like ChatGPT finally enabling us to fully capitalize on the data revolution.
Pay attention… because if you catch a revolutionary technology right before it goes mainstream, then you could make massive gains in just a few years.
And on Thursday, July 27, you can hear all about the next big phase of the AI Revolution when I sit down with my colleagues Louis Navellier and Luke Lango – including what we think the big winner and losers will be.
The AI Impact Event starts at 7:00 p.m. ET on Thursday, July 27. Click here now to reserve your spot so you don’t miss it.
Regards,
Eric
