We're Living in the Future Right Now

The evolution of artificial intelligence is getting even faster. SPECIAL OPPORTUNITIES [The Oxford Club Special Opportunities]( We're Living in the Future Right Now Jonathan Mead, Research Analyst, The Oxford Club [Jonathan Mead] When I hear the term "artificial intelligence," or AI, the first thing that comes to mind is problem-solving. Whether it's an existing problem without a solution or a new, previously undiscovered obstacle, artificial intelligence can identify and solve problems more efficiently than humans. This idea is sometimes difficult for humans to accept, but the combination of advanced algorithms, large amounts of data and supercomputing power can come up with far more - and far better - solutions to our problems. Cathie Wood, CEO of Ark Invest, recently said that artificial intelligence will be the "next big frontier" in investing. In fact, her hedge fund had previously predicted that artificial intelligence would deliver a $30 trillion market opportunity over the next 15-20 years... but Wood recently raised that estimate to $80 trillion. However, before embracing that higher target, we must first understand what drove the initial $30 trillion prediction... The Evolution of AI The most prominent reason for this huge growth estimate is digital transformation. People and companies around the world are embracing a digital society, and as a result, businesses are being forced to improve their digital reach to keep up with this societal shift. AI is already being deployed to optimize businesses, and it's enabling them to collect more data and use that data more effectively in order to quickly identify consumer trends and create personalized experiences to improve customer satisfaction. You may have noticed this in the form of targeted ads in internet browsers or the "related items" list on Amazon. (For more on AI's role in digital transformation, [click here]( That's helping companies improve their profitability in several ways. Revenues related to AI usage are projected to follow a 52% compound annual growth rate, from $1.62 billion in 2016 to $31.2 billion in 2025. Take a look for yourself... [Revenues Attributed to the Use of AI]( Artificial intelligence is having a significant impact on many businesses' revenues, and AI systems are quickly becoming a necessity for keeping up with competition. Most companies you can think of have already started using them. So here's the question again: What caused Cathie Wood to more than double her previous estimate of the AI market? The AI revolution. Let's go through it... The Compounding Power of Data Ever since the internet entered the mainstream in the 1990s, the number of devices connected to it has grown at an incredible rate. Amazingly, humans generated 2.5 quintillion bytes of data per day in 2020. (For reference, there are 18 zeros in a quintillion.) AI learns from this data in a fashion similar to how we learn from reading. So as the global pool of data grows even larger, AI continues to grow even smarter. Increasing computing power also allows AI to analyze larger amounts of data. And our society is approaching the point where artificial intelligence is enabling software and algorithms to improve by themselves. Software 2.0 A subcategory of AI comprised of software that learns to solve problems on its own is called "deep learning." Ark Invest has categorized deep learning as "Software 2.0." The period of "Software 1.0" lasted from 1970 to 2015 and describes the time when the code for computers was written entirely by humans. The period of Software 2.0 began in 2015 and describes the current state of software as "code written by data." In other words, computers are starting to write their own code. In the present, internet services such as search engines and social media platforms rely on deep learning algorithms to show consumers the most relevant content. Industry Impact Artificial intelligence will play a major, transformative role in every industry. Two of its largest beneficiaries will be the healthcare and automotive industries. AI is already being used in both industries, but it has far more to offer. In healthcare, AI is being used to detect diseases like cancer more accurately and at earlier stages. So far, its use has enabled a 30X decrease to the time needed to perform a mammogram and has increased the test's accuracy to 99%. (A deeper look into AI's healthcare implications [can be found here]( Drugmakers like GlaxoSmithKline (NYSE: GSK) and Pfizer (NYSE: PFE) are using AI to streamline and simplify the development of medicines. [In this article]( Pfizer explains how it uses AI to discover transformational medicines, speed up the drug discovery process and deliver more effective solutions. Meanwhile, in the auto industry, Waymo, a subsidiary of Google (Nasdaq: GOOG), has an operational fleet of autonomous vehicles that have traveled more than 25 million driving miles across 25 cities. Autonomous cars are in the early stage, but they are here to stay, and the longer they're around, the smarter they will become. ([Click here]( to learn more about Waymo's autonomous ride-hailing service.) Artificial intelligence is clearly in the middle of a revolution, and companies and corporations are supporting it with significant, strategic investments. In 2030, AI is expected to add up to $15.7 trillion to global GDP. By then, it will be utilized in nearly every industry. While Cathie Wood's $80 trillion target is a lofty goal, the nearly endless applications of artificial intelligence will enable it to create a massive amount of market value in the future. Smart investors will be keeping an eye on it. Good investing, Jonathan SPONSORED [Access the Money Tool Metric Typically Reserved for World's Richest ($10M+ Net Worth)]( There's a little-known money tool that was created by Deutsche Bank in the '90s... Which Goldman Sachs promotes to its ultra-wealthiest clients who have at least $10M in net worth... And now this coveted metric is being shared with everyday Americans - in a truly unique way. The Financial Times reports, "All investors should be aware (of this money tool)." [Click here for details.]( [The Oxford Club] You are receiving this email because you subscribed to Oxford Club Special Opportunities. Oxford Club Special Opportunities is published by The Oxford Club. Questions? Check out our [FAQs](. Trying to reach us? 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