Artificial Intelligence has been a futurist dream for decades but today it has finally come of age as the many barriers to its implementation have been overcome. This ‘new technology’ has been at least 80 years in the making and suffered its fair share of disappointments along the way, as progress failed to match expectations.
Now, at last, however, the elements are in place for it not only to match these expectations but, in due course, to exceed them. Rapid advances in both hardware and software are producing ever better and more powerful solutions. At the same time, it is clear that most people still have a limited understanding of what AI really is and what it is capable of achieving.
In this authoritative new study, professional investor and market historian Dr Sandy Nairn draws on his 40 years of experience in financial markets to put the history and future of AI in context. It draws on and updates the research in Engines That Move Markets, his classic study of the financial and market impact of past technology-inspired revolutions, from the railways to the Internet.
In simple and unambiguous language he explains why AI is set to become an agent of transformation equivalent, at least in magnitude, to the greatest leaps forward in technology we have so far seen in human history, which have brought us from an agrarian subsistence economy to today’s advanced industrial society. He also reminds us that within long transformative cycles there are shorter technology market cycles where capital raising brings both danger and opportunities for the patient investor.
The evidence from those previous technological leaps helps us understand the magnitude of what we can expect in the future from AI as it continues its rapid development. Dr Nairn lays out the likely impact of these changes for investors over the next decade, assesses some of the winners and losers, and warns that we need to think very carefully about the economic and social impacts if we are to maximise AI’s potential and minimise negative side effects.
Thoroughly researched and ambitious in scope, his new book seeks to provide readers with an expert account of how AI will change our lives, while also stimulating debate about the opportunities and dangers this latest technological revolution will bring.
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