As a crypto investor and tech enthusiast, I’m excited about the massive potential of Artificial Intelligence (AI) projects in our modern world. Cathie Wood, the CEO of ARK Invest, shares my sentiment and believes that Tesla, led by Elon Musk, is set to win big in this sector.
“Cathie Wood, the head of ARK Invest, identifies Tesla led by Elon Musk as her top pick among artificial intelligence (AI) undertakings, surpassing initiatives such as OpenAI and Microsoft.”
Tesla To Win With Robotaxis
During a talk with Valerio Baselli, a seasoned international editor at Morningstar, Wood expressed his belief that the self-driving taxi industry or robo-taxi platforms will capture a significant portion of the artificial intelligence market. He described it as a “market where one dominant player is likely to emerge.”
She explained that these vehicles signify a fusion of energy storage, AI, and robotics.
The ARK Invest CEO expressed her belief that this specific market opportunity could yield revenues ranging from $8 to $10 trillion by the year 2030. She anticipates that approximately half of these earnings will be captured by companies like Tesla. Tasha Keeney, Ark Investment’s Director of Investment Analysis & Institutional Strategies, echoed this perspective following Tesla’s Q4, 2023 earnings report release in January.
At first glance, Tesla’s outcomes seemed underwhelming to many investors. However, Keenay held a different perspective. She argued that investors were primarily considering the immediate implications of Tesla’s financial reports. Keenay believed that this narrow focus overlooked Tesla’s long-term strategy: its plans for expanding into robot taxi services. According to her, this strategic move could significantly boost Tesla’s future prospects.
Just like Cathie, I observe that the electric vehicle industry is progressing toward the establishment of autonomous taxi networks. Consequently, she deems Tesla as the most significant artificial intelligence endeavor on a global scale.
Other businesses led by Elon Musk, aside from Tesla, are actively pursuing the adoption and integration of AI technology. It’s worth mentioning that Musk unveiled XAI a few months ago.
OpenAI Also Have Innovative Solutions
Cathie’s remark might come across as disdainful to AI systems such as OpenAI, which have introduced numerous tools and Large Language Models (LLMs), significantly transforming various sectors.
OpenAI’s ChatGPT has gained significant attention and buzz around the world as a leading AI tool. In the previous year, it set a new record on Wikipedia as the most-viewed English article with an impressive 49.5 million page views.
As an analyst, I’ve recently observed an intriguing development in the world of artificial intelligence: a few months ago, a leading AI company introduced OpenAI Sora, a groundbreaking technology capable of generating videos from textual descriptions. Currently, this firm is actively courting Hollywood to adopt this innovative solution. Given these advancements, it’s reasonable to anticipate that some ardent followers of AI might challenge Cathie’s ranking in the field.
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2024-04-29 10:15