저자: CathieWood · 외국인
요약 보기
결론: 캐시 우드는 AI(특히 챗GPT로 촉발된 열풍)가 생산성 혁명을 가져오며 데이터·도메인 전문성을 가진 기업이 최대 수혜자가 될 것이라고 주장한다. [AI 시장 인식과 투자 관점] 투자자들이 AI가 세상에 미칠 영향을 이해하려고 허둥대는 중이며, 챗GPT가 투자자들의 상상력을 사로잡았다고 평가한다. 시장은 전반적으로 혁신에 대해 매우 비관적(숏)인 자세를 취하고 있다고 본다. [벤처·사모 투자] Arc Venture 펀드에서 AI에 큰 비중을 두고 있으며, 'picks and shovels(곡괭이·삽 역할 기업)'가 중요하다고 강조한다. Mosaic ML(비상장)은 AI 소프트웨어 진척을 가속하는 투자처로 언급된다. [생산성·수혜 기업 구분] AI 활용으로 생산성 이득이 대부분 발생하며, 그 수익은 AI를 가장 효과적으로 쓰는 기업에 돌아간다고 본다. 메타는 메타버스보다 AI에 먼저 집중한 것이 옳은 판단이라고 평가한다. 엔비디아는 언급되었으나, 독점 데이터셋을 가진 숨은 보석 기업이 가장 큰 수혜를 받을 것이라는 논지다. [테슬라 전망] 테슬라는 세계 최대 규모의 실주행 데이터를 보유해 자율주행 택시(SaaS형, 높은 마진, 승자독식) 기회에서 선두에 설 것이라고 평가한다. [유전체·정밀의료] Exact Sciences는 종양학 분자진단에서 세계 최대 데이터를 보유해 AI로 1기 암 탐지를 돕는 방향으로 학습 중이라고 소개된다. 핵심 3요소는 도메인 전문성, AI 전문성, 데이터다. [블록체인 비교·타임라인] 2017~2018년 블록체인 열풍처럼 현재 AI 언급이 기업 실적발표에서 급증하고 있다고 지적한다. 기업이 자사 제품·서비스에 AI 솔루션을 실제로 전달하는 시점을 평가 기준으로 삼아야 한다는 취지다. [리스크·조건] 기업들이 AI를 자사 사업에 어떻게 활용하는지, 독점 데이터셋을 보유하는지가 관건이다. 생산성 증가가 기대 이상으로 충격적일 것이라는 낙관적 전망이 전제다. [출연자 전망] 전반적으로 AI 관련 장기 낙관론, 특히 테슬라·데이터 보유 기업에 긍정적이다.
다듬은 글
a lot of the public-facing excitement has been over things like chat GPT and you know the thing writing stories and writing exam papers Etc what you talk about in your report is more the coding side of things which is what Inez just highlighted as well do you think the market really well understands the potential for AI right now um I I think the Market's scrambling to try and understand uh what how AI is going to impact the world and chat GPT has captured the investors uh imagination which is fantastic because we believe that innovation has been neglected I believe that most investors are very short Innovation you mentioned our Venture fund before we have a big focus on AI in the Venture fund picks and shovels are very important Mosaic ml is a private company in which we've invested that is actually speeding up the progress with its software in uh in artificial intelligence so um uh the the name of the fund is Arc Venture so really really proud of it uh public private starting now because we believe the time is now um in terms of AI you're right a lot of what we expect is productive video games and and so that will accrue to those companies that use AI most effectively uh yes meta platforms was very interesting to hear Mark Zuckerberg last night uh Focus first on AI as opposed to the metaverse you had been focusing he had been trying to push the idea of the metaverse we think uh before its time embracing AI right now and uh introducing it deeply into the firm to create efficiencies absolutely the right thing to do um foreign the revenue opportunities they may not be as obvious sure the picks and shovels you you mentioned Nvidia but we believe that the hidden gems that will benefit perhaps the most from artificial intelligence are those companies with proprietary data sets and we use Tesla all the time as a prime example of a lot of a lot of Technology attributes one of them is having the largest pools of real world driving data in the world in fact it has more of that kind of data orders of magnitude more of that kind of data than all of the other auto manufacturers and technology companies involved in Transportation around the world and so we believe that it will have uh it will be in the pull position for the autonomous taxi platform opportunity which is a software as a service opportunity with massive margins and it's also a winner take most opportunity the company that is able to get a an autonomous vehicle from point A to point B the the safety the the most safely and quickly is going to be the winner that's going to be the go-to service so we're looking for those sorts of opportunities in the genomic space exact sciences and we have models of both of these companies along with our assumptions on GitHub actually but exact science is probably has more data because of its uh Premier position in oncology molecular diagnostic testing than any other company in the world and it is training the data with artificial intelligence so that it can help surface cancer in stage one uh so again here the company with the most data the most proprietary data and the right domain expertise and AI expertise so those three things domain expertise these are scientists with a deep understanding of biology AI expertise and data so those are the kinds of companies we're looking for Kathy you know when we think about Ai and the mentions that it's been getting even in earnings calls it it's hard not to think that it won't be to at least this year in 2023 what blockchain mentions were to companies in 2017 and early 2018 you had every company from Roblox box and IBM and Amazon and meta all talking about how they were going to integrate blockchain and how big it was going to be for their business so for us to avoid that what is the actual timeline for delivery that we should be kind of grading these companies on with regard to delivering some type of AI solution within their own product and service well I think for a little bit more and it is how are our companies harnessing AI for their own businesses do they have these proprietary data sets so that's the first thing because this is going to AI is going to enable the most massive productivity increase in our history and we think we think that the productivity gains are going to be astounding and shock
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