Bank Zero chairman Michael Jordaan
According to Michael Jordaan, chairman of Bank Zero, artificial intelligence (AI) will revolutionize the world and companies will have to adapt.
“I think companies that don’t lean on AI, the ones that aren’t going to use it for decision making, might not be around in 5 to 10 years,” Jordaan told The Money Show with Bruce Whitfield.
According to him, the launch and adoption of ChatGPT indicate that the “age of machine learning has arrived”.
ChatGPT is an AI chatbot developed by OpenAI that was used by more than 100 million people in the first two months.
Companies that use AI, such as ChatGPT, will be able to make better ratings than companies that don’t.
Jordaan decided to put his money on the spot. He set up two investment funds that would invest in companies using AI technology to operate them.
With the initiative, he joins forces with Nic Kohler, Willem Roos and Roger Grobler, a group that has been investing together for eight years.
AI Capital is their most recent fund. It is based in Singapore and plans to invest in Africa, South and Southeast Asia.
Jordaan also invests in AI Asset Management, a company that uses mathematical and statistical tools to guide and automate investment choices.
The company is already investing in the NASDAQ stock exchange to build a track record of performance.
He stated that investors should adopt the latest technological advances as older investments may not be as safe as they once were. Banks and traditional bonds are two good examples.
Jordaan predicted that artificial intelligence (AI) will become widespread, necessary and powerful in our society today. “There is no point fighting this macro trend. Rather lean in,” he advised.
The post Embrace AI or perish appeared first on Business Tech Africa.
