The world’s first AI summit, which is being organised by UK Prime Minister Rishi Sunak at Bletchley Park, the country estate where Alan Turing cracked the Enigma code that helped end the second world war, is being held next week.
A guestlist of around 100 invited attendees includes Microsoft president Brad Smith, OpenAI chief executive Sam Altman, Google DeepMind chief Demis Hassabis, and from Meta AI chief Yann LeCun and president of global affairs Nick Clegg.
Elon Musk, the tech billionaire who earlier this year formed a new AI start-up called x.ai, has been invited but has not yet committed to attend, according to the Financial Times.
The summit is being hailed as the “first major global summit on artificial intelligence safety.”
Stressing the high stakes ahead of the summit, Sunak in a speech on Thursday warned that “humanity could lose control of AI completely” if the tech was not given due oversight even if it created new opportunities.
Whether AI will be a force for good or not, of course, remains to be seen.
What is clear, however, is that AI is here to stay and, as such, that investors who are serious about building their long-term wealth need to be a part of it.
The AI Race is on, with the big tech firms racing to lead in the development, deployment, and utilisation of artificial intelligence technologies.
AI is going to (in fact, it already is) reshape whole industries and fuel innovation – and this makes it crucial for investors to pay attention and why almost all investors need exposure to AI investments in their portfolios.
While it seems that the AI hype is everywhere now, we are still very early in the AI era. Investors should act now to have the early advantage.
Getting in early allows investors to establish a competitive advantage over latecomers. They can secure favourable entry points and lower purchase prices, maximizing their potential profits.
This tech has the potential to disrupt existing industries or create entirely new ones. Early investors are likely to benefit from the exponential growth that often accompanies the adoption of such technologies. As these innovations gain traction, their valuations could skyrocket, resulting in significant returns on investment.
While AI is The Big Story currently, investors should, as always, remain diversified across asset classes, sectors and regions in order to maximise returns per unit of risk (volatility) incurred.
Diversification remains investors’ best tool for long-term financial success. As a strategy it has been proven to reduce risk, smooth-out volatility, exploit differing market conditions, maximise long-term returns and protect against unforeseen external events.
AI is not just another technology trend; it is a game-changer.
Therefore, I believe that almost all investors should include exposure to it as part of their mix.
Nigel Green is deVere CEO and Founder
Also published on Medium.
