Tech Giants on Alert: Cathie Wood Foresees AI Disrupting Google, Apple, and Amazon
According to Cathie Wood of ARK Invest, the technology industry’s dominant players face potential disruption from artificial intelligence (AI). In a recent Bloomberg interview, Wood expressed that ChatGPT, an AI language model, could either enhance Google’s products or undermine them by diminishing the tech giant’s advertising revenue. This concern extends to Apple as well. Wood believes that ChatGPT and other chatbots may disintermediate Google, rendering traditional search and advertising less necessary.
Similarly, she highlighted the possibility of AI-powered bots like ChatGPT surpassing Amazon in their ability to scour the web for the best prices and products. Wood emphasized that any platform serving as an intermediary is at risk of disruption. Earlier this month, ARK Invest’s bullish stance on Coinbase was apparent as they accumulated significant amounts of Coinbase stock (COIN), displaying optimism toward the leading US cryptocurrency exchange.
Clever Robot News Desk 30th May 2023
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