It is hard to go through any conversation centered on technology without mentioning AI. Even if the conversation isn’t centered around AI, it seems to always sneak in. As someone who is both interested in its economic effects and social effects, I find myself trying to learn more about AI because it is generally confusing and often a troubling discourse. We love AI when we hold Nvidia stock but we hate it when we are in a low skilled labor position. In this article I was able to learn a little bit more about the business side of the rise of AI. From this article I learned that, “Nvidia accounts for some 57% of the increase in the market capitalisation of our hardware firms.” This is especially important to point out not just because of the magnitude of the market the company captures, but also how important the hardware manufacturing firms are to this growth. When AI booms, the companies that see the largest increase of investment tend to be the hardware manufacturing companies–which explain the Nvidia boom. Another important detail that the article mentions is that the economic growth of the companies is not proportionally equal to all the other sections. Cloud computing, software developers, and model makers also have their share of the market, though their percentages are not nearly the same and have not seen as much growth in investment. It is hard to tell when investment will slow or if the proportions will see much change. The article attempts to compare the AI boom to the internet boom and map behaviors that way.
Thank you for writing about this, AI seems to be ever-evolving and constantly increasing in complexity. I spoke to a former OWU alumni named Memme who co-founded an AI startup and his belief is that AI will continue to grow more of a presence throughout the economy.
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