117: 3 Tech Megatrends Shaping The Future
The Bid
Chat GPT - What Makes It Special?
Chat GPT is an advanced AI chatbot that can understand and create human-like conversation. It was released by a firm called OpenAI, but tools free to use. The tech could upend the search model as we've known it since the 1990s. Chat GPT can perform a wide variety of tasks that are currently done by humans.
The pace of technological change has taken a giant leap forward and created opportunities for investors. ChatGPT has been compared to the invention of the internet, robots are being introduced to workforce. And agricultural technology is being more widely implemented to try to solve for a growing global population. Jeff Spiegel, US Head of BlackRock, Megatrend International and Sector ETFs, will help us decode some of these new technologies and better understand the impact on both our lives and our portfolios.
SOURCES: Yahoo News, Steve Mollman, 12/9/22; Sciencefocus.com, “ChatGPT: Everything you need to know about OpenAI’s GPT-3 tool”; Shopify, Digital Ad Spend 2021-2026; U.S. Chamber of Commerce, Understanding America’s Labor Shortage; Automate.org, “The First Industrial Robot”; McKinsey, “Automation, Robotics and the Factory of the Future”; Bureau of Labor Statistics, August 2022; Atlanta Fed Wage Growth Tracker; NY Fed, Global Supply Chain Pressure Index; WSJ – U.S. Companies on Pace to Bring Home Record Number of Overseas Jobs, 8/23/22; Market Research Future, “Global Robotics Market Research Report,” August 2021; FetchRobotics, July 2022; Robots 247, 8/14/21; Bureau of Labor Statistics, November 2021 “Employer Related Workplace Injuries and Illnesses”; Liberty Mutual Insurance Workplace Safety Index; Proliance Puyallup Surgeons, “How Robotic Surgery Improves Patient Outcomes”, 3/11/21; Medtronic Press Release, 10/11/21; TheRobotReport.com, “Robot Sales Hit Record High for 3rd Straight Quarter”. 8/29/22; United Nations, “World population to reach 8 billion this year, as growth rate slows,” July 2022; Grand View Research, “Precision Farming Market Size, Share & Trends Analysis Report By Offering (Hardware, Software, Services), By Application (Yield Monitoring, Weather Tracking, Field Mapping, Crop Scouting), By Region, And Segment Forecasts, 2022 – 2030,” 2022; EIT Food, “Is vertical farming really sustainable?,” August 2018; The White House, “FACT SHEET: CHIPS and Science Act Will Lower Costs, Create Jobs, Strengthen Supply Chains, and Counter China,” August 2022.
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