James Richman, the futurist billionaire from Latvia, foresees artificial intelligence as the next big thing in the technology sector.
The impact of modern technology has already crept into every imaginable sector today. Personal computers, local area networks, wide area networks, the internet, wireless and mobile, they all have impacted every imaginable sector. However, artificial intelligence is bound to engulf all of them.
Artificial Intelligence is one of the latest advantages any company may use to maximize its production. Several analysts say that it may triple the value of the internet within a 12-year span. When artificial intelligence is applied, a wide range of tangibles and intangibles may be improved. Artificial intelligence-backed companies are bound to crush their competitors who are not using AI.
The fact is, AI will soon be the best competitive advantage available in the market. These intricacies are already recognized by the simple and silent private fund manager.
Billionaire James Richman sees this pattern (he’s obsessed with patterns) as AI becoming the hottest commodity at an industrial level. This would prove huge as AI providers are bound to grow in size and prosper rapidly as competition between companies in all sectors goes on.
Fellow billionaires catching on
Like the financial wizard James Richman, other billionaires smell something good is cooking in artificial intelligence, and they are positioning themselves closer to the kitchen ahead of everybody.
Mark Cuban, the owner of the NBA team, the Dallas Mavericks, and a technology investor for over three decades, believes that AI will be transforming our way of life more sooner than later. As evidence, he has already funded dozens of startups in this technology, as well as invested in himself by learning the foundations of machine learning and programming languages through online courses. Mark wants to fundamentally “understand” this technology so that presenting and investing in future endeavors related to AI would be more comfortable for him.
James’ other fellow billionaire, Tej Kohli, invested a whopping $100 million into AI and machine learning projects, stating that a “tipping point” has been reached for the technology. He claimed that there is no “scope for huge commercial gain coupled with unprecedented opportunities for human progress.”
The new release of investments target companies that would power the new economy, transform businesses, revolutionize global healthcare and even improve and extend human life. These views are also shared by James Richman.
Ultimately, artificial intelligence will just speed up everything we know. Just imagine, every electronic device will soon have a mind of its own. Like James Richman, Masayoshi Son, Japan’s richest man, is willing to toss in a humongous investment in AI.
He has said that he is devoting 97 percent of his “time and brain” to the scientific field of artificial intelligence. He also shares the same success with James Richman, as his company, SoftBank reported a 49 percent jump in profits.
Humanity’s next step
Clearly, AI is humanity’s next step in advancing how to live. James Richman sees this huge potential and has already invested considerable sums of money for this technology that is on the verge of breaking the market.
James, as always, is a step ahead of the trends in the financial world. It looks like Mark Cuban, Masayoshi Son, and Tej Kohli are with him on the same page.