The Bid
147: A History of Investing in AI | AI pt. 1
Oct 6, 2023
Jeff Shen, Co-CIO and Co-head of Systematic Active Equity at BlackRock, discusses the history and milestones of AI, recent developments in AI algorithms, investment opportunities in the AI space, and the potential of AI in the investment industry.
20:36
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Quick takeaways
- Investors' attitudes towards AI have gone through three phases: skepticism, hype, and sometimes a crash of excitement, and currently, there is renewed excitement and growing investment interest.
- The future developments in AI include leveraging big data, big models, and big crowd for better decision-making and transformative opportunities.
Deep dives
The Origins and History of AI
Artificial intelligence (AI) has a rich history, dating back to the theoretical beginnings and early aspirations of the field. It traces back to logic and Aristotle, but the AI we know today dates back to the 1940s. The development of AI has been driven by better data representation, sensing technology, and algorithms. AI has gone through phases of skepticism, followed by periods of hype and excitement. Breakthroughs like the defeat of a world champion chess player by an AI system and the emergence of generative AI have sparked investor interest and attention.
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