A.I. could be worth $1 trillion asset option but it might decrease drastically, the CEO anticipates

July 18, 2023: Artificial intelligence will be the oversized drop, according to the CEO of open-source A.I. company Stability A.I.

Speaking with UBS analysts on a call in the previous week, Stability AI CEO Emad Mostaque said of artificial intelligence, “I think this will be the biggest drop.” He added that it is always in the early stages and must be ready for mass-scale adoption in industries like banking.

Stability A.I. is the company after Stable Diffusion, one of the more popular generative A.I. tools besides OpenAI.

Stable Diffusion allows users to generate photo-realistic images by inputting text. It has over a million users and has raised over $100 million from investors, including Coatue and Lightspeed Venture Partners.

Mostaque, its co-founder and CEO, has been accused of misleading claims about his background, achievements, and partnerships. He disputed the claims one by one in a detailed response on his blog.

Generative A.I. has captivated the imagination of many an academic, boardroom executive, and even school student for its ability to produce humanlike language and visual content from scratch in response to user prompts using vast amounts of data.

A.I. has long been around, with the technology now a common feature of online browsing, social media platforms, and home assistants. Beyond consumer applications, the technology is used in medicine, transportation, robotics, science, education, finance, defense, and other industries.

However, a more novel form of A.I. that has come about recently is generative A.I., which is used in tools such as the popular A.I. chatbot ChatGPT from U.S. tech firm OpenAI, as well as Google Bard and Microsoft Bing Chat, and image generators like Dall-E, Stable Diffusion, and Midjourney.

Mostaque said that the total amount of investment needed in A.I. was likely to be $1 trillion “because it’s more important than 5G as infrastructure for knowledge” and suggested banks like UBS would have to adopt the technology as it is a “massive market.”

But, he added, it is at the “early stages” of development right now.

“It’s not quite ready” to be deployed at scale within large industries like financial services, “but we can see the value,” Mostaque said.

Mostaque said that companies that do not use A.I. appropriately in their businesses will be “punished” by the stock market.

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