Deep Dive: AI may have 'far reaching impact' but investors must beware 'hype'

Nvidia only ‘pure play’ in AI

While AI has been around for decades, the technology is "still in its infancy" and may well have "far reaching impact across the broader economy".

According to Christopher Rossbach, CIO at J. Stern & Co, the technology is "on the same scale as prior industrial revolutions, such as the steam engine, and electricity generation". "AI will markedly improve productivity, and have a transformational effect on the global economy," he argued. The term AI has never been more highly searched on Google than in 2023, according to the search engine's ‘Trends' data.  With data going back to 2004, the term had a steady level of ‘interest over time' until mid-2022 when it started picking up momentum before rising rapidly in 2023. This ins...