It’s been reported that tech giants Amazon, Apple, and Google will be disrupted by AI. Check out the latest reports here.
Cathie Wood addresses tech giants and AI
According to recent remarks by Cathie Wood from ARK Invest, the tech industry’s dominant players are susceptible to disruption by artificial intelligence.
During an interview with Bloomberg, as reported by the Daily Hodl, Wood expressed that ChatGPT could enhance the services provided by Google.
More than that, it could also destroy them by taking away the tech giant’s advertising revenue.
She also says that it’s the same case for Apple.
“For Google, ChatGPT was either the worst thing that has ever happened to it, or maybe the best thing. We tend to think it’s going to be disintermediated, though, by ChatGPT and other chatbots. We are not going to need the kind of search and therefore advertising that drives Google’s model, so we do worry about that one and… Apple.”
Amazon could fall victim to AI as well
In addition, she mentioned the possibility of Amazon facing challenges from AI technology, specifically if a bot such as ChatGPT becomes skilled at searching the web for product details and prices.
“There are many people who think that even Amazon is going to be disrupted, not only by social commerce – so people just shopping through Instagram and other social media sites [like] Pinterest – but it also could be disintermediated if consumers use ChatGPT and other AI tools to say ‘I want exactly this kind of item at the cheapest price anywhere in the world,’ and It will go directly to that source.”
She continued and said the following:
“So any platform that has served as an intermediary is at risk, we would say.” Stay tuned for more news and make sure to check out the markets as well.