Image by Dan’s Papers
On August 22, I had the opportunity to speak at a CryptoMondays NYC event hosted by Hamptons Masterminds at the Contessa Gallery in Southampton. The event focused on the intersection of artificial intelligence, art, and investing—an intersection that’s becoming increasingly crucial as AI reshapes so many aspects of our world.
The event was set against the backdrop of Dalí’s Dreams: A Surreal Journey through the Mind of Salvador Dalí, an exhibit running through September. The Dalí exhibit provided a fitting visual metaphor for the conversation around AI. Much like surrealism challenged perceptions and invited viewers to consider new realities, AI is challenging our understanding of creativity, intelligence, and even what it means to be human. But while people often think of AI in terms of the fantastical or even the dystopian, my aim at the seminar was to ground the discussion in reality, highlighting both the promise and the limits of the technology.
One of the first points I made during my presentation was how AI, as a concept, has evolved significantly in the last few years. It’s no longer just about machine learning or robotics; AI has become a catch-all term for a variety of technologies. I outlined four key types: narrow machine learning algorithms (like facial recognition), expert systems (used in medical diagnostics), decision support systems (like financial planning tools), and large language models (such as ChatGPT). Each of these technologies has distinct capabilities and limitations, which is why understanding AI in practical, grounded terms is so critical—especially for those looking to invest in the space.
AI’s ability to enhance industries like healthcare is undeniable. Expert systems, for instance, now outperform doctors in diagnostic tasks, like reading MRIs or detecting diseases. But while AI can process vast amounts of data far faster than any human, it’s important to understand that AI doesn’t “think” like we do. It doesn’t reason like a human mind. It doesn’t understand like a human mind. It’s a powerful tool, but not a sentient one.
This distinction is crucial for investors and innovators alike. As much as I believe AI is a world-changing technology capable of generating unprecedented innovation and wealth, it’s important not to be swayed by overhyped promises. The real value of AI, in its current form, lies in its ability to augment human decision-making, not replace it.
Looking ahead, I predict the next few decades will see more value created through AI than we’ve ever seen before. However, the outcomes will be unpredictable, and that’s what makes investing in AI both exciting and challenging. As I told attendees, getting ahead in this space requires broad, thoughtful bets and being as close to the AI frontier as possible.
In the end, AI is only as beneficial or as harmful as the people who wield it. With the right focus and intentions, the future of AI will undoubtedly transform industries, unlock new possibilities, and enhance lives in ways we’re only beginning to imagine.