Artificial Intelligence and The Lessons of DotCom
The Dividend Cafe
The Dividend Cafe - The Bahnsen Group
4.9 • 572 Ratings
🗓️ 1 December 2023
⏱️ 22 minutes
🧾️ Download transcript
Summary
Today's Post - https://bahnsen.co/3GnL8pE
Rarely have I hyped up a Dividend Cafe so much and set you all up for such disappointment. The topic I write about today is one that has been on my mind and in my research orbit for a long time, and on a couple occasions I actually teased up that it was coming, only to pull the plug and defer publication to a later date. Well, that later date is today.
We know the huge hype around Artificial Intelligence in 2023 – not merely in stock prices, but throughout society. On a daily basis we hear of some reference to how AI may change education or business or politics or, my favorite, farming. And as is always the case, this “hype” has a foundation to it – there is a profoundly interesting evolution in technology playing out that will change the way a lot of things are done. It will involve policy adaptations, cultural pushback, misallocations, great advancements, and, yes, certain negatives. All of these things are par for the course in a world that grows – that is, a world that was created to see human beings innovate around the raw materials they were given. Someone should write a book! But fundamentally, artificial intelligence is a big deal, even if the early years of its introduction will be filled with misunderstanding and wrongly directed reactions.
But people do not read Dividend Cafe for my assessment on the technological or even cultural context of new innovations. Rather, our job here is to assess a whole host of subjects for their economic and market impact – particularly for investors (and to be more particular than that, for our investors, that is, clients of our firm – or those of you who will be clients of our firm). The Artificial Intelligence story is an investor story, too, and that requires a sober reflection on a lot of things. Today’s Dividend Cafe is that sober reflection.
Let’s jump into the Dividend Cafe …
Links mentioned in this episode: TheDCToday.com DividendCafe.com TheBahnsenGroup.com
Transcript
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| 0:00.0 | Welcome to the Dividend Cafe weekly market commentary focused on dividends in your portfolio and dividends in your understanding of economic life. |
| 0:11.8 | Well, hello and welcome to the Dividend Cafe. I am recording here Friday morning from my hotel in San Francisco. I will be speaking at an event tomorrow that I speak at every year. |
| 0:26.1 | This is my 23rd year at this conference. |
| 0:29.4 | And in the meantime, I got to wrap up this Dividendon Cafe that I had been working on for several |
| 0:36.5 | months this morning. |
| 0:39.1 | And so that is our subject today is the dividend cafe I've been working on regarding |
| 0:45.0 | artificial intelligence, one of everybody's favorite topics. |
| 0:51.0 | And yet from an investment standpoint, my goal is not to do a treatment of the issue |
| 0:57.0 | on what so many have felt a need to do, which is evaluate potential societal risks, |
| 1:05.4 | privacy concerns, governmental controls, you know, some of the kind of moral ramifications of this |
| 1:13.6 | complicated topic. There's a lot there. I don't think that there's a lot of good material there or |
| 1:19.8 | good perspective there. I think most of what I hear is either rather shallow or driven towards something, dystopian, |
| 1:29.8 | but not necessarily super intelligible. |
| 1:33.9 | But be that as it may, it just isn't in the category of what I'm after today. |
| 1:38.3 | I want to do an investment commentary on the state of artificial intelligence and what this means for investors |
| 1:48.1 | and as I am prone to do, evaluate in the context of what historical lessons may exist. |
| 1:56.9 | So the hype around artificial intelligence right now, particularly as people think about it from an educational or political point of view is pretty high. |
| 2:09.1 | But there is an investment hype that is kind of my bigger interest or concern today. |
| 2:17.3 | And if I get to a point where I think people read Dividend Cafe for my assessment of |
| 2:23.6 | technological innovation, then perhaps we'll add more to this. |
| 2:29.9 | But I'm going to stay in my lane and hope that you find some benefit. |
| 2:35.7 | I think that we're going to start off, by the way, |
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