Discussion around the market’s recent AI rally has been intense, with billionaire investor Mark Cuban offering his perspective on the pervasive role of AI in the foreseeable future. In a recent appearance on CNBC’s “Closing Bell: Overtime,” Cuban emphasized the necessity of AI proficiency across various sectors, from students to corporate executives.
In Cuban’s view, the integration of artificial intelligence into daily life is inevitable. He asserted that those unfamiliar with AI are destined to encounter failure. Cuban vehemently stated, “If you don’t know AI, you are going to fail. Period, end of story.” He highlighted the profound implications AI will have on all aspects of human activity, leaving no room for evasion.
Anticipating a future where AI is ubiquitous in educational, professional, and potentially military environments, Cuban underscored that companies like Palantir Technologies, Inc. (NYSE: PLTR) and AeroVironment, Inc. (NASDAQ: AVAV) have already carved out niches in AI-centric military and security applications.
However, Cuban did not shy away from acknowledging the risks accompanying the widespread adoption of AI, particularly concerning national security concerns. He advocated for a robust immigration policy in the United States to attract and retain talented individuals, thereby ensuring a strategic advantage over potential adversaries.
Furthermore, Cuban proposed that policymakers should foster strong bonds with AI developers and engage with industry leaders to guide AI’s evolution towards safety and security. He contended that regulation might not be the most effective approach, given that AI advancement is primarily steered by innovation rather than policy considerations.
Reflecting on the market response, Palantir Technologies shares concluded the trading session with a marginal dip of 0.94% at $23.82, whereas AeroVironment shares surged significantly, closing up by 27.9% at $167.08 on Tuesday.
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