According to Cointelegraph, ARK Invest’s white paper points out that Apple and Google’s parent company Alphabet may use artificial intelligence (AI) to maintain industry dominance.
ARK’s Chief Futurist Brett Winton said AI is a disruptive technology with the fastest cost decline in history. The cost of running an AI model is halved every four months, a trend that is expected to continue throughout the decade.
Winton also noted that large tech companies often allow startups to experiment with new technologies before adopting them on a large scale. Google and Apple have taken this approach.
While Google lags behind OpenAI, Apple is expected to launch its first modern AI-powered product in the fall of 2024. Winton believes that even though large companies are delaying the introduction of AI features, it does not mean that they will lose out in the competition.