I’ve been reading Ray Dalio’s brilliant new book Principles. What a genius that man is. Not only smart and an absolute original but also quite an eccentric. His company, Bridgewater Associates, the most successful hedge fund in the world, has been an innovator in algorithmic decision-making since its inception. Data, AI and algorithms provide the company with the tools to make decisions unencumbered by emotion or swayed by internal politics (this is a huge deal for Ray Dalio, he talks about it frequently in the book).
But now, finally, AI is being touted as the technology of our age. As big a deal as electricity was 100 years ago.
- AI is a huge market. The global artificial intelligence market had an overall valuation of US$126 billion in 2015. The market is estimated to grow at a CAGR of 36.1% through 2024 when it is expected to reach an overall valuation of US$3,061 billion.
- Fingers crossed, we’ll see AI replacing much of the government. Can you imagine how much more streamlined and efficient governing would be? No more gridlock, brinkmanship and general craziness when it comes to things that matter to all Americans: infrastructure, education, health care.
Read on below for more examples of how companies and industries are using AI for greater efficiency and competitive advantage. It’s a MUST READ.