Tech Billionaires, Bureaucrats, and Artificial Intelligence
Posted September 19, 2023
James Altucher
Washington held an AI conference last week that was probably a total waste of time.
It focused on regulating AI, including billionaire tech leaders like Elon Musk, Mark Zuckerberg, Microsoft CEO Satya Nadella, Google CEO Sundar Pichai, and other tech billionaires…
Among the topics discussed were racial biases of AI, copyright protections, and AI’s potential to eliminate many jobs.
Although Washington deserves credit for calling a meeting of top tech minds to discuss important topics, it is unlikely that the summit will produce results any time soon…
The problem comes down to the highly technical nature of AI.
If Washington regulators struggle to understand the science (or lack of science) around masks and vaccines, what chance do they ever have of understanding complex topics like perceptrons, matrix algebra, or Markov chains?
If this sounds like gibberish to you, that's the point.
Understanding AI requires deep technical knowledge. Many of Washington’s lawmakers don’t have the knowledge to comprehend it. And how can they attempt to set rules of use for a technology they don’t understand?
From my perspective, the idea that Washington could effectively regulate AI may be slightly out of reach.
While yesterday’s summit was a first attempt at beginning to get a handle on something they cannot fully grasp, it is a step in the right direction…
Embracing The Tech Trend
Yesterday's meeting was proof that government regulators are starting to understand the fact that AI is here to stay.
The technology is here and it's evolving fast.
And whether they believe it’s good or bad for the economy, it doesn’t matter…
Companies in almost every industry are racing to evolve with the times and formulate an AI-centric business model.
Washington knows this (which is why they called this high-profile meeting in the Capitol) and they are scrambling to figure out how to contain it.
I’m not sure if our government agents have the capability to effectively regulate AI, but I think the fact that they are in talks about setting laws around this groundbreaking technology is a good sign.
It shows us that, whether they can contain it or not, they know it’s not going anywhere.
As for us here in Altucher Confidential and Altucher’s Investment Network… we already knew that a while ago.
But, as with regulating AI, effectively investing in AI requires a deep technical understanding of the underlying math and science.
Investors who don’t have access to investment research performed by experts with a deep understanding of the technology are at risk of missing out on the single most significant wealth-creating opportunity of all time.
Fortunately, my team is stacked to the brim with experts who’ve spent years studying AI in depth.
My team and I are constantly evaluating opportunities in the space as we search for small startups poised to become a trillion-dollar behemoth.
And we think we’ve got one.
After an eight month long investigation, my team and I have uncovered what I believe is the biggest wealth creation opportunity I have ever seen.
Industrial Revolution? Bigger.
Internet revolution? Bigger.
Thing is, it’s happening over 2,000 miles away from Wall Street.
I made a short video to show you how it works.